NEW BULLISH Plays
Lowe's Companies - LOW - close: 45.47 change: +0.48
Stop Loss: 44.40
Current Gain/Loss: unopened
Entry on August -- at $--.--
Listed on August 05, 2013
Time Frame: exit PRIOR to earnings on Aug. 21st
Average Daily Volume = 5.9 million
New Positions: Yes, see below
Why We Like It:
LOW is a home improvement giant with more than 1,750 stores.
The home improvement business tends to follow the ups and downs of the housing sector.
While investors are worried that rising interest rates could cool down the housing market we're not seeing any concern reflected in shares of LOW. The stock ignored market weakness today and rallied to another new all-time high.
We are suggesting a trigger to open bullish positions at $45.60. If triggered our short-term target is $49.50. However, we will plan on exiting prior to LOW's earnings report on August 21st.
FYI: The Point & Figure chart for LOW is bullish with a long-term $57.50 target.
Trigger @ 45.60
Suggested Position: buy LOW stock @ (trigger)
- (or for more adventurous traders, try this option) -
Buy the Sep $45 call (LOW1321i45) current ask $1.75