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Uptrend Broken SupportArchive
- 5/10/2024 -
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Lowe's Cos. (LOW) Technical Analysis
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| Summary:
| | Weekly :  | | Daily :
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| | It was a second positive week after 5 consecutive negative weeks for the Lowe's Cos. (LOW). During the week, the LOW gained 2.90 points, or 1.25%, and closed at 235.03 on Friday, May 10, 2024. It was the best weekly gain since March 22, 2024. Weekly volume was -39% below average.
LOW is a member of Consumer Discretionary Sector. Consumer Discretionary is the second most oversold sector. Sector/industry rotation is considered a proven strategy to beat the market. Use the following links to find overbought/oversold technical indicators by Sector or by Industry.
 Long-term trend: [See LOW long-term trend chart]
A long-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 Broadening Ascending Wedge chart pattern. The price is near the trend support (230.71) line. The support is usually stronger when technical indicators are oversold. Use the following links to access Trend Support/Resistance Help, or use the Technical Stock Screener to see the list of stocks with price testing the trend support line in a long-term trend.
 Medium-term trend: [See LOW medium-term trend chart]
A medium-term downtrend had started on March 22, 2024 at 262.49 and reached 224.68 on April 25, 2024. LOW lost 37.81 points, or 14.40%, in 4 weeks. The chart has formed a Symmetric Triangle chart pattern. The downtrend resistance line (226.85) is broken. Usually a broken resistance is considered to be a long-term bullish signal, but since daily indicators are overbought a short-term pull back is possible. LOW may retest the broken resistance line. It is considered to be a support 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 resistance line in a medium-term trend.
 Weekly Technical Indicators: [See LOW weekly technical indicators chart]
Weekly technical indicators are neutral.
The weekly MACD line is below its signal line since April 19, 2024. This is an indication that the medium-term trend is down. The distance between MACD and the signal line is low, but getting bigger. It indicates that the current medium-term downtrend is getting stronger. Use the following link to access a MACD help.
 Short-term trend: [See LOW short-term trend chart]
A short-term uptrend had started on April 25, 2024 at 224.68 and reached 238.15 on May 3, 2024. LOW gained -13.47 points, or -6.00%, in 8 days. Price is near the Fibonacci 23.6% retracement level. The Fibonacci retracement level is considered a support/resistance level.
 Daily Technical Indicators: [See LOW daily technical indicators chart]
Daily Williams' Percentage Range is overbought. Use the Technical Stock Screener to see the list of stocks with overbought daily Williams' Percentage Range. 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 link to access Williams' Percentage Range help.
The daily MACD line is above its signal line since May 2, 2024. This is an indication that the short-term trend is up.
During the last week, the price has moved above the moving average in the center of the Bollinger Bands. The distance between the Bollinger Bands (3.71%) is close to one year low (4.78%). It is 63.40% lower than one year average. It indicates the period of low volatility of the stock price, and it is considered a buy signal for the option traders. The Bollinger Bands are often used with a non-oscillator indicator like chart patterns or a trendline. The signals are considered more reliable if these indicators confirm the recommendation of the Bollinger Bands. Use the following links to access the Bollinger Bands Help, or use the Technical Stock Screener to see the list of stocks with the price above the Upper Bollinger Band or below the Lower Bollinger Band.
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