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Possible Bearish Inside Day Candle Pattern Detected for Lowe'S Cos Inc (:LOW)

By Nick Russo

SmarTrend's candlestick scanner has spotted a possible bearish inside day candle pattern in Lowe'S Cos Inc (:LOW) based on the price action in the company's shares. Yesterday's price range of $124.42 and $126.20 is within the prior day's high and low of the day. This trading action often signifies indecision by bulls and bears to drive prices higher or lower and often implies a possible change in trend. Owners of Lowe'S Cos Inc may want to consider a possible hedge in the event a pullback occurs. Look for confirmation in the next few trading days.

Lowe'S Cos Inc (:LOW) is currently priced 16.7% above its average consensus analyst price target of $104.32. Lowe'S Cos Inc shares have support at the 50-day moving average (MA) of $120.70 and additional support at the 200-day MA of $110.07.

Lowe's Companies, Inc. is a home improvement retailer that distributes building materials and supplies through stores in the United States. The Company offers a complete line of products and services for home decorating, maintenance, repair, remodeling, and property maintenance.

Lowe'S Cos Inc share prices have moved between a 52-week high of $126.73 and a 52-week low of $91.60 and closed yesterday at 37% above that low price at $125.31 per share. In the last five trading sessions, the 50-day moving average (MA) has climbed 0.6% while the 200-day MA has risen 0.2%.

SmarTrend is tracking the current trend status for Lowe'S Cos Inc and will alert subscribers who have LOW in their portfolio or watchlist when shares have changed trend direction.

Keywords: bearish am inside day candle :low lowe's cos inc

Ticker(s): LOW