Lowe’s (LOW) – Home Improvements Accelerates – May 15th, 2020

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 

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