AnneTrader
Long

LOW going higher

NYSE:LOW   LOWES COS 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.
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