Trade Ideas: LOW
Markets taking an initial shine to the Fed decision. Russell 2000 clears 797 resistance in a fresh breakout. New highs in Large caps. Techs remain range bound, but are at least working upside from their 20-day MAs (or mid-Bollinger band). The buying was reflected in the Trade Ideas scan; 8 picks covered a time span of under 1 minute. Topping in 45 appearances was Lowe's Companies (LOW) (actually - now that I look down the list I see Teleflex, TFX, on 57 appearances)
The best strategy play for this is to follow the trend channel. The stock recently enjoyed a "Golden Cross" between its 50-day and 200-day MAs. Major base resistance lurks at $34.50. Look for a handle to develop between $32 and $35 before the real fun starts. Projected target of $42. Current bearish point-n-figure chart target of $19 will be negated by a move to $35.
If you would like to try a full version of the Trade-Ideas software, follow this link for a free 7-day trial.
Trade Ideas
The best strategy play for this is to follow the trend channel. The stock recently enjoyed a "Golden Cross" between its 50-day and 200-day MAs. Major base resistance lurks at $34.50. Look for a handle to develop between $32 and $35 before the real fun starts. Projected target of $42. Current bearish point-n-figure chart target of $19 will be negated by a move to $35.
Lowe?s Companies, Inc. operates as a home improvement retailer in the United States and Canada. It offers a line of products and services for home decorating, maintenance, repair, remodeling, and property maintenance. The company?s home improvement store stocks a selection of national brand name merchandise of approximately 40,000 items. It serves homeowners, including retail do-it-yourself customers and do-it-for-me customers; renters; and commercial business customers, such as repair and remodeling contractors, electricians, landscapers, painters, plumbers, and commercial and residential property maintenance professionals. Lowe?s Companies also owns and operates flatbed distribution centers to distribute merchandise that requires special handling due to size or type of packaging such as lumber, boards, panel products, irrigation pipe, vinyl sidings, ladders, and building materials. In addition, it provides installation services. The company markets its products through television, radio, newspaper, magazine, direct mail, sponsorships, Internet, and instore programs, as well as through special order sales system. As of September 14, 2006, the company operated 1,275 stores in 49 states, as well as owned and operated approximately 10 flatbed distributions centers. Lowe?s Companies was founded in 1946 and is based in Mooresville, North Carolina.
If you would like to try a full version of the Trade-Ideas software, follow this link for a free 7-day trial.
Trade Ideas
