#$low

5 Trade ideas excerpted from the detailed analysis and plan for premium subscribers:

Bank of New York Mellon, $BK, comes into the week at a new all-time high after breaking resistance. It has a RSI in the bullish zone with the MACD positive. Look for continuation to participate…

BP, $BP, comes into the week at resistance. It has a RSI in the bullish zone with the MACD positive. Look for a push over resistance to participate…

Cummins, $CMI, comes into the week rounding out of a pullback. It has a RSI rising into the bullish zone with the MACD positive. Look for continuation to participate…

Costco, $COST, comes into the week at resistance. It has a RSI rising through the midline with the MACD crossing up. Look for a push over resistance to participate…

Lowe’s, $LOW, comes into the week rising out of a pullback. The RSI is in the bullish zone with the MACD rising. Look for continuation to participate…

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After reviewing over 1,000 charts, I have found some good setups for the week. These were selected and should be viewed in the context of the broad Market Macro picture reviewed Friday which with the January options expiry in the books, saw equity markets show strength after a precarious start Monday morning.

Elsewhere look for Gold to continue its assault on the all-time high while Crude Oil rises in consolidation. The US Dollar Index continues to drift higher while US Treasuries remain in a short term downtrend. The Shanghai Composite looks to continue to chop the entirety of a broad range while Emerging Markets remain in a short term downtrend.

Lowe's is profitable and its stock $LOW is profitable for a longer time than 5 years.

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Lowe's, $LOW, rose up out of consolidation in October, reaching a top in December. It pulled back from there, eventually retracing 88.6% of that move as it crossed under the 200 day SMA at the end of February. This was the first touch at the 200 day SMA in over a year. It reversed since then and has made a higher low followed by a higher high. It ended the week riding the Bollinger Bands® higher toward resistance at the 38.2% retracement level. 

The RSI is moving into the bullish zone with the MACD now positive and rising. There is resistance at 240 and 244.50 then 252.75 and 260 before 263. Support lower sits at 231 and 225.50 before 221 and 210. Short interest is low at 1.3%. The stock pays a dividend with an annual yield of 1.36% and will start trading ex-dividend on April 19th. The company is expected to report earnings next on May 18th. 

The April options chain shows the largest open interest below at the 210 put, and then at the 230 and 250 calls. In May action is just starting to build, but the at-the-money straddle shows a 10.25% implied move by expiry. The June chain has big open interest from 230 to 175 on the put side but twice as big as everywhere else at 200. On the call side it builds from 180 to a peak at 230 then falls to 270.

Lowe’s, Ticker: $LOW

Trade Idea 1: Buy the stock on a move over 237 with a stop at 230.

Trade Idea 2: Buy the stock on a move over 237 and add a May 230/210 Put Spread ($6.90) while selling the June 250 Calls ($6.05).

Trade Idea 3: Buy the April/June 240 Call Calendar ($7.25) and sell the May 220 Put ($5.70).

Trade Idea 4: Buy the June 210/240/250 Call Spread Risk Reversal (65 cents).

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After reviewing over 1,000 charts, I have found some good setups for the week. These were selected and should be viewed in the context of the broad Market Macro picture reviewed Friday which with the first Fed tightening and March Quadruple Witching behind, saw equity markets with renewed strength.

Elsewhere look for Gold and Crude Oil to pause in their uptrends. The US Dollar Index also looks to consolidate the recent gains while US Treasuries continue the downtrend. The Shanghai Composite looks to continue the trend lower along with Emerging Markets, although the latter might be ready for a reversal.

5 Trade ideas excerpted from the detailed analysis and plan for premium subscribers:

Alexion Pharmaceuticals, Ticker: $ALXN

Alexion Pharmaceuticals, $ALXN, started lower in January, accelerated into February and made a bottom in mid-March. It has steadily moved higher since and is now challenging resistance at the 200 day SMA. The RSI is rising in the bullish zone with the MACD rising and positive. Look for a push over resistance to participate…..

Ashland, Ticker: $ASH

Ashland, $ASH, dropped out consolidation in February and found a bottom in mid-March. It has reversed since and is now working back toward resistance. The RSI is turning up towards the bullish zone with the MACD rising and positive. Look for a push over resistance to participate…..

Lowe’s, Ticker: $LOW

Lowe’s, $LOW, started lower in February, finding support in the middle of March. It reversed higher and continued until early April. Since then it has settled under resistance. The RSI is rising into the bullish zone with the MACD positive and moving higher. Look for a push over resistance to participate…..

Marathon Oil, Ticker: $MRO

Marathon Oil, $MRO, started to roll over lower in January. It got faster in February and then gapped down in the beginning of March. It has settles into consolidation since. Friday it peeked up over the top of the consolidation. It has a RSI rising into the bullish zone with the MACD about to turn positive. Look for a push over resistance to participate…..

Uber, Ticker: $UBER

Uber, $UBER, dropped lower from mid-February through to mid-March. It bounced from there with a quick move up to the 20 day SMA. It stalled and pulled back for a short time before running back up to resistance and consolidating. Friday it pushed over that resistance. The RSI is rising into the bullish zone with the MACD positive and moving up. Look for continuation to participate…..

If you like what you see sign up for more ideas and deeper analysis using this Get Premium link.  

After reviewing over 1,000 charts, I have found some good setups for the week.  These were selected and should be viewed in the context of the broad Market Macro picture reviewed Friday which heading into the last week of April, saw equity markets showed resilience, holding up in the face of a massive move in Crude Oil.

Elsewhere look for Gold to continue higher while Crude Oil may be pausing in the downtrend. The US Dollar Index continues to tighten its consolidation while US Treasuries remain in an uptrend. The Shanghai Composite looks to continue in broad consolidation while Emerging Markets pause in their short term uptrend.

EARNING UPDATE $LOW Lowe’s Companies, Inc. for quarter ending q_Jul18 – Revenue grew, Margins expanded

[s2If !current_user_can(access_s2member_level0)]Please login to read the earning update on LOW [lwa][/s2If][s2If current_user_can(access_s2member_level0)]Lowe’s Companies, Inc. reported earnings (EPS) of 1.86 per share for the quarter ending q_Jul18. This is vis-vis 1.19 per share for the previous quarter ending q_Apr18, a growth of 56.3 %. Compared to last year same quarter (q_Jul17), earnings…