Options Edge: Credit collects 48% of Width

The bullish DailyPlay for Friday, May 15th is Lowe’s Companies Inc (LOW). LOW has rallied 11.4% in the last month and continues to push higher after a recent pullback to $105 support. 

Fundamental View

• BofA Credit Card data shows sustained 20-30% increase in home improvement spending in March & April compared to 2019.
• Analyst revisions point to a small beat on earnings
• Earnings May 20th (6 days)

Technical View

• Bounced higher after pulling back to $105 support
• Strong relative strength score (9 out of 10)
• 1M and 6M trends turned bullish on May 4th after break above $107