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After Yesterday's Rally of 1.66% Shares Could Potentially Pullback

By Shiri Gupta

Lowe's (NYSE:LOW) traded in a range yesterday that spanned from a low of $82.33 to a high of $83.48. Yesterday, the shares gained 1.7%, which took the trading range above the 3-day high of $82.74 on volume of 2.1 million shares. Often times after large one-day gains, short term traders will seek to take profits and, as such, investors should be cautious.

Lowe's share prices have moved between a 52-week high of $84.00 and a 52-week low of $62.62 and are now trading 33% above that low price at $83.39 per share. In the last five trading sessions, the 50-day moving average (MA) has climbed 0.8% while the 200-day MA has risen 0.2%.

SmarTrend recommended that subscribers consider buying shares of Lowe's on November 11th, 2016 as our proprietary SmarTrend analytics indicated a new Uptrend was in progress when shares hit $69.61. Since that recommendation, shares of Lowe's have risen 17.8%. We continue to monitor LOW for any potential shift so investors can protect gains and will alert SmarTrend subscribers immediately.

Keywords: rebounders lowe's

Ticker(s): LOW