Lowes Companies Inc (LOW)

[ITMS]

Lowe's Cos Inc $LOW Keeps Falling And It Can Go Lower

Lowe's Companies, Inc. (Lowe's) is a leading home improvement company. The Company operates approximately 2,370 home improvement and hardware stores in the United States, Canada and Mexico. Recently, the stock plunged sharply lower after reporting earnings that disappointed the street. Traders and investors should note that the stock actually topped out on April 17, 2019 at $118.23 a share. Today, the stock is trading lower by $2.13 to $93.21 a share. The stock is now trading below it's important 200-day moving average which puts the stock in a weak technical position. In the near term, the stock could have some short term support around the $90.00 area. Unfortunately, the bigger time frame charts are suggesting lower prices are still in the cards for LOW stock. The next major support level for the stock will likely be around the $75.00 level. This important support area is where the stock was defended back in September 2017, it will likely be defended again at that level when retested.




Nicholas Santiago
InTheMoneyStocks