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Uptrend ExhaustionArchive
- 4/19/2024 -
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Lowe's Cos. (LOW) Technical Analysis
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| Summary:
| | Weekly : | | Daily :
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| | It was the negative week for the Lowe's Cos. (LOW). During the week, the LOW gave back -1.81 points, or -0.78%, and closed at 230.24 on Friday, April 19, 2024. Weekly volume was -23% below average.
 Long-term trend: [See LOW long-term trend chart]
A long-term uptrend had started on June 22, 2022 at 170.12 and reached 262.49 on March 22, 2024. LOW gained -92.37 points, or -54.30%, in 91 weeks. The price is now at the 34.91% retracement level.
 Medium-term trend: [See LOW medium-term trend chart]
A medium-term uptrend had started on October 27, 2023 at 181.85 and reached 262.49 on March 22, 2024. LOW gained -80.64 points, or -44.34%, in 21 weeks. The chart has formed a Rising Channel chart pattern. The uptrend support line (240.17) is broken. Usually a broken support is considered to be a long-term bearish signal, but since daily indicators are oversold a short-term pull back is possible. LOW may retest the broken support line. It is considered to be a resistance line now. Use the following links to access Trend Support/Resistance Help, or use the Technical Stock Screener to see the list of stocks with broken trend support in a medium-term trend.
 Weekly Technical Indicators: [See LOW weekly technical indicators chart]
Weekly technical indicators are neutral.
The weekly MACD line is above its signal line since December 8, 2023. This is an indication that the medium-term trend is up. The distance between MACD and the signal line is low and getting smaller. It indicates that the current medium-term uptrend is getting weak. Use the following link to access a MACD help.
 Short-term trend: [See LOW short-term trend chart]
A short-term downtrend had started on March 22, 2024 at 262.49 and reached 227.24 on April 17, 2024. LOW lost 35.25 points, or 13.43%, in 26 days. The chart has formed a Falling Wedge chart pattern. The trend support level is at 224.89 and resistance is at 231.95. A Falling Wedge is a triangle formation with a noticeable slant to the downside. It represents the loss of a downside momentum on each successive low and has a bullish bias. The Falling wedge usually marks a reversal in a downtrend. In an uptrend a falling wedge is considered to be a continuation pattern. Use the following link to access a Falling Wedge chart pattern help, or use a Technical Stock Screener to see the list of stocks with Falling Wedge pattern in a short-term trend.
 Daily Technical Indicators: [See LOW daily technical indicators chart]
Daily Williams' Percentage Range and Lane's Stochastic are strongly oversold. Use the Technical Stock Screener to see the list of stocks with daily strongly oversold Williams' Percentage Range and Lane's Stochastic. During the last week, daily Lane's Stochastic main line (%K) has rallied above the oversold signal line (%D). Such crossover is considered a bullish signal. Oscillators are designed to signal a possible trend reversal. They can act as alerts and should be taken in conjunction with other technical analysis tools. Oscillators can be used to confirm other technical signals. Use the following links to access Lane's Stochastic and Williams' Percentage Range help.
The daily MACD line is below its signal line since March 27, 2024. This is an indication that the short-term trend is down. The distance between MACD and the signal line is relatively high, but getting smaller. It indicates that the current short-term downtrend is still strong, and momentum is beginning to wane.
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