Lowe's Companies, Inc. : A rally is expected
Entry price | Target | Stop-loss | Potential |
---|
US$67.37 |
US$0 |
US$65.7 |
-100% |
---|
The USD 66.25 support, currently tested, should allow Lowe's Companies to rally again.
From a fundamental viewpoint, there is a strong buyer consensus whose average target price is displaying a +18% potential. Furthermore, the firm enjoys an excellent Surperformance rating which underlines the business predictability and the earning quality. Finally, financials forecasts are encouraging with estimated 2 digits growth rates for net and operating income.
Graphically, in the long and in the mid-term the trend remains bullish. Nevertheless, a resistance in the USD 75/76 area, provisionally stopped the upward move. Back on a historical support in the USD 66 area, the share may find new momentum on this threshold as weekly moving average are well oriented and the rising 50 period one could help prices to increase.
Consequently, investors may open a long trade at current prices and target a reversal toward the USD 70.6 resistance. A stop loss order will be set at USD 65.7.
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