After Yesterday's Rally of 2.29% Shares Could Potentially Pullback
Lowe's (NYSE:LOW) traded in a range yesterday that spanned from a low of $75.01 to a high of $76.90. Yesterday, the shares gained 2.3%, which took the trading range above the 3-day high of $76.72 on volume of 2.6 million shares. Often times after large one-day gains, short term traders will seek to take profits and, as such, investors should be cautious.
In the past 52 weeks, shares of Lowe's have traded between a low of $62.62 and a high of $78.13 and are now at $76.84, which is 23% above that low price. The 200-day and 50-day moving averages have moved 0.24% higher and 0.77% higher over the past week, respectively.
SmarTrend recommended that subscribers consider buying shares of Lowe's on February 22nd, 2016 as our proprietary SmarTrend analytics indicated a new Uptrend was in progress when shares hit $69.35. Since that recommendation, shares of Lowe's have risen 8.2%. We continue to monitor LOW for any potential shift so investors can protect gains and will alert SmarTrend subscribers immediately.
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