An intraday high potential, Back Tested Sort Analysis.
We ll try to enter into the correction of the uptrend movement.
DETAILS ON THE CHART
NOTE: Entry range area above the entry point, is calculated upon 80% of the recorded pullback back tested past performances
DISCLAIMER: This is a technical analysis study, not an advice or recommendation to invest money on.
LOW is approaching a resistance at the $117 range and may proceed to take a tumble to the $101 support line if it continues this pattern. Would not recommend getting in yet because it has $2 more to move up but still is something to keep and eye on.
I've been watching Lowe's since early Feb and I think there is potential for a big move leading up too/after the ER on March 1st.
It's been running in the green for ~8 days and the RSI indicates it's oversold.
It's currently hanging out on the 0.628 Fib lvl, could see it gap up to 0.786 or 1.0 Fib lvls (~$111 and ~$117)
The support levels are at 0.5 and 0.382...
LOW originally failed to make a move lower or higher out of the previous triangle. But towards the end of the day we saw it break up out of the new triangle it was making on rising volume into the close. I would like to see it open around where it closed and come back to retest 108. Find a good long entry as it hold, and has a very clear straight path to 109 at...
Looking for a short here, LOW gapped up on an earnings beat but it has been topping out the past few days at 108. We made an attempt to break out long out of the triangle but failed and moved lower out of the triangle. Will have to see how PA plays out tomorrow at the open but would like to get a retest of a TL or MA before looking to get in. 106.70 will be a key...