AnneTrader
Long

LOW going higher

NYSE:LOW   LOWE'S COMPANIES INC
LOW has been trending up since late 2012 but the ride has not always been smooth. From November 2013             to August 2014 price was stuck in a prolonged pullback/consolidation around $50. Then in late August price broke above the November 2013             pivot high, retested it (see the weekly chart) with a spike below the resistance-turned-support and continued it's upward momentum.

On the daily chart LOW broke above the 19th September pivot high and a good opportunity to buy into this stock presented itself with the first gap up on 31st October. If you missed this then yesterdays gap offers a second opportunity.

Trading gaps is a near-term strategy but LOW looks in a position to trend over the longer-term, too, so this set-up could apply to either.