Lowe's Companies Stock To Move Towards Resistance

By Stock MarketsFeb 24, 2022 07:29AM ET

www.investing.com/analysis/lowes-companies-stock-to-move-towards-resistance-200618696

Lowe's Companies Stock To Move Towards Resistance

By | Feb 24, 2022 07:29AM ET

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When we look at the Lowe’s Companies Inc (NYSE:LOW) chart, we see it’s been trading in a downtrend since Feb. 16, falling steadily lower and lower as market conditions worsen.

There was a bounce from the support level of $211 during yesterday’s session, rallying up to the $226 range but unable to consolidate it retracted and erased all gains made intraday. It was last found trading at $215.08 above the support of $211 and the closest overhead resistance of $228.

Lowe’s Companies scheduled a quarterly earnings announcement yesterday. Earnings expectations were surpassed, with both EPS and Revenue estimations surpassed today could expect the price to move upwards, towards the $228 price range.

Today we can expect a move towards the $222 resistance level. If, however, it doesn’t manage to hold on to the current level, then a move below the $211 support can be expected.

Lowe's Companies stock price chart.

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Lowe's Companies Stock To Move Towards Resistance

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