Lowe's Companies, Inc.Mis à jour LOW: Flipped Wedge
Back in May 2018 LOW started an inverted wedge including a partial rise and failed to break down in Aug 2019, and reversing course to flip the wedge upside down for a possible breakout above (imminent). RSI, MACD, ADX and PSAR are all bullish.
The only thorn in my eye is marked 'X' at the beginning of September this year, there are no solid 'weekly' candles touching the upper trend line. This is worrying as it technically can be considered "busted". While there are instances where stocks DO break out in the right direction in cases such as this, they are rather rare. I would still point to a positive breakout above, given all these higher lows and higher highs the stock is producing. But I will say this as a personal opinion only.
In case of a breakout above the ATH, the next target would be 143 (technical confirmation minus market risk).
Earnings Release is tomorrow (Wednesday BMO). I will update this post tonight 30min before close should there be any changes.
The only thorn in my eye is marked 'X' at the beginning of September this year, there are no solid 'weekly' candles touching the upper trend line. This is worrying as it technically can be considered "busted". While there are instances where stocks DO break out in the right direction in cases such as this, they are rather rare. I would still point to a positive breakout above, given all these higher lows and higher highs the stock is producing. But I will say this as a personal opinion only.
In case of a breakout above the ATH, the next target would be 143 (technical confirmation minus market risk).
Earnings Release is tomorrow (Wednesday BMO). I will update this post tonight 30min before close should there be any changes.
Note
While technically the stock is strong, there are multiple "busts" throughout the formation which is added risk and labels the stock neutral. Letting this one go.Note
Slightly stronger case for the bulls right now. Let's see AH performance.Note
Up in pre-market tells us LOW does not follow exact technical rules. For the future it'll be easier to foretell performance direction whenever we'll need it. For now the stock has moved as expected, and per this moment has broken the ATH in pre-market to highs of 120.11. Critical will be where the stock opens, so once we have this information we can address new targets.
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Clause de non-responsabilité
Les informations et les publications ne sont pas destinées à être, et ne constituent pas, des conseils ou des recommandations en matière de finance, d'investissement, de trading ou d'autres types de conseils fournis ou approuvés par TradingView. Pour en savoir plus, consultez les Conditions d'utilisation.