Lowe's Companies, Inc. : Should improve with a rebound
By Alexis Peyrard
Entry price | Target | Stop-loss | Potential |
---|---|---|---|
$46.73 | $0 | $45.3 | -100% |
On a technical viewpoint, the stock evolves in a large channel of prices since it’s stopped a strong bullish trend. The last trading sessions have seen a consolidation movement that brought the share price back to an interesting level near USD 46.3. This level represent an opportune entry level as a rebound could happen, launching the stock to USD 49.
Therefore, a long position could be engaged at the current prices, the target will be USD 48.50 and by extension USD 49.5. A stop loss will be placed under the support level at USD 46.3 in case of a downward movement towards the bottom of the tunnel.