Can Lowe’s Support All-Time Highs?
C = Catalyst for a Stock’s Movement
Lowe’s operates as a home improvement retailer. It offers a range of products for maintenance, repair, remodeling, and home decorating. With the recent downturn and housing bubble burst in the United States economy, consumers and businesses are opting for remodels instead of new purchases. Investors are purchasing income properties that also need to be remodeled. As this trend continues, Lowe’s is well-positioned to continue its profit stream.
T = Technicals on the Stock Chart are Strong
Lowe’s is trading near all-time highs. The stock has formed a beautiful uptrend of higher highs and higher lows that has delighted investors. Evaluating a price trend can be efficiently done with the use of key moving averages. What are the key moving averages? The 50-day, 100-day, and 200-day simple moving averages. Lowe’s is trading above its rising key averages which signals a strong uptrend in the price of the stock…