Bullish Lowe’s Companies Inc.

rallied from US$60.00 in March 2020 to US$263.31 in December 2021 , reversed the trend in 2022 when it fell below the 40-week Moving Average and stayed below a falling trendline for about seven months .

The stock then settled in a bullish rising triangle pattern made up of higher lows and equal highs . The recent move above the top of this pattern suggests a breakout and the start of a new uptrend toward higher targets . A sustained rise above US$238-239 would confirm it. Behaviour indicators including the rising 40-week Moving Average confirm the bullish status. There is good support near US$215; only a sustained decline below the 40wMA would be negative.

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