On Thursday, Lowe's received a positive adjustment to its Relative Strength (RS) Rating, from 79 to 83.
As you try to find the best stocks to buy and watch, keep a close on eye on relative price strength.
This exclusive rating from Investor's Business Daily identifies share price action with a 1 (worst) to 99 (best) score. The grade shows how a stock's price performance over the trailing 52 weeks stacks up against all the other stocks in our database.
Over 100 years of market history reveals that the best stocks tend to have an RS Rating north of 80 in the early stages of their moves.
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Lowe's is now considered extended and out of buy range after clearing a 213.79 buy point in a first-stage cup with handle. Of course this is after it gave back all of the gains from the original breakout. One difference is the volume, which was better than average on the two previous up days. See if the stock forms a new pattern or follow-on buying opportunity like a three-weeks tight or pullback to the 50-day or 10-week line.
LOW Earnings
The company reported negative growth for both sales and earnings last quarter.
Lowe's holds the No. 5 rank among its peers in the Retail/Wholesale-Building Products industry group. Global Industrial and Tractor Supply are also among the group's highest-rated stocks.
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