Dependant on your perspective the chart of
LOW
could be interpreted as bullish or bearish. Many of the indicators are positive but that may be offset by market sentiment in the retail sector. Home depot reported today and it was not exactly a blowout quarter, with as expected weather issues interfering with sales. Lumber prices were also an issue and that will be no different for Lowes. It is indeed difficult to make any trading decisions in the current market with such volatility but we believe that the correction in
LOW
has a little further to go.
We have no position and will not make any call either way until after earnings but there is plenty of time to get involved.
LOW
could be interpreted as bullish or bearish. Many of the indicators are positive but that may be offset by market sentiment in the retail sector. Home depot reported today and it was not exactly a blowout quarter, with as expected weather issues interfering with sales. Lumber prices were also an issue and that will be no different for Lowes. It is indeed difficult to make any trading decisions in the current market with such volatility but we believe that the correction in
LOW
has a little further to go. We have no position and will not make any call either way until after earnings but there is plenty of time to get involved.