{"id":12989,"date":"2023-05-24T04:43:19","date_gmt":"2023-05-24T08:43:19","guid":{"rendered":"https:\/\/ifintechworld.com\/investing\/lowes-stock-holds-bullish-trend-and-keeps-beating-rival-home-depots\/"},"modified":"2023-05-24T04:43:20","modified_gmt":"2023-05-24T08:43:20","slug":"lowes-stock-holds-bullish-trend-and-keeps-beating-rival-home-depots","status":"publish","type":"post","link":"https:\/\/ifintechworld.com\/?p=12989","title":{"rendered":"Lowe\u2019s stock holds bullish trend and keeps beating rival Home Depot\u2019s"},"content":{"rendered":"
\n

Shares of Lowe\u2019s Companies Inc. bounced back Tuesday to extend their bullish trend, while those of larger rival Home Depot Inc. continued their bearish bent.<\/p>\n

And while the stock
\n LOW,
\n +1.72%<\/bg-quote>
\n pared its initial loss of as much as 3.4%, it had remained on track to open below its 200-day moving average (DMA), which many Wall Street chart watchers view as a dividing line between longer-term uptrends and downtrends.<\/p>\n

\n

The stock initially fell in premarket trading after the home-improvement retailer reported fiscal first-quarter results before the market\u2019s open.<\/p>\n

But just before the bell rang at 9:30 a.m. Eastern time, the stock climbed back into bullish territory. It continued to rally and was last up 1.9% in afternoon trading at $207.06, above the 200-DMA, which currently extends to $201.62, up from $201.58 on Monday, according to FactSet.<\/p>\n

<\/p>\n
<\/p>\n
<\/div>\n<\/figure><\/div>\n

And to make the stock\u2019s technical outlook a little more bullish, the 50-DMA, which many use to track the short- to medium-term trend, has crossed back above the 200-DMA. The 50-DMA currently comes in at $201.77, up from $201.57 on Monday.<\/p>\n

That chart pattern is referred to as a bullish \u201cgolden cross,\u201d which some chart watchers believe marks the beginning of a longer-term uptrend.<\/p>\n

<\/p>\n
<\/p>\n
\n \"\"\n <\/div>\n<\/figure><\/div>\n

The golden cross isn\u2019t necessarily a buy signal, especially since the opposite bearish \u201cdeath cross\u201d appeared just about three weeks ago. But what it does confirm to investors is that although the stock has basically gone nowhere for the past six months, that\u2019s been enough to beat Home Depot\u2019s stock.<\/p>\n

Home Depot\u2019s
\n HD,
\n +1.47%<\/bg-quote>
\n stock was up 1.5% in afternoon trading Tuesday. But not only does it remain below its 200-DMA, currently at $301.16 \u2014 the stock has closed below its 200-DMA since Feb. 21 \u2014 the 200-DMA is well below the 50-DMA at $290.88.<\/p>\n

<\/p>\n
<\/p>\n
\n \"\"\n <\/div>\n<\/figure><\/div>\n

Lowe\u2019s stock has lost 1.9% over the past six months, while Home Depot\u2019s has dropped 8.3%.<\/p>\n

Another way to show Lowe\u2019s outperformance is by using a relative-strength chart, which maps one stock against another:<\/p>\n

<\/p>\n
<\/p>\n
\n \"\"\n <\/div>\n<\/figure><\/div>\n

Basically, Lowe\u2019s stock has been holding firm to a sharp uptrend relative to Home Depot\u2019s since the beginning of the year. And since late January, its relative performance has held above the 50-DMA, which in turn has moved well above the 200-DMA since crossing above it in mid-March.<\/p>\n

It also helps that Lowe\u2019s provided a fundamental reason to help back the relative uptrend.<\/p>\n

Both companies reported fiscal first-quarter profit that beat expectations. Lowe\u2019s also beat total sales forecasts, while Home Depot missed by a wide margin.<\/p>\n

Both companies reported same-store sales that fell more than forecast, but Lowe\u2019s result was better than Home Depot\u2019s \u2014 Lowe\u2019s was down 4.3% and Home Depot\u2019s U.S. sales fell 4.6% \u2014 for the first time since the fourth quarter of 2020, as D.A. Davidson analyst Michael Baker noted.<\/p>\n

And while both companies lowered their full-year profit and sales outlooks, Wall Street projections for Lowe\u2019s earnings per share and revenue were within the company\u2019s lowered guidance ranges.<\/p>\n<\/p><\/div>\n<\/div>\n

Read the full article here<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"

Shares of Lowe\u2019s Companies Inc. bounced back Tuesday to extend their bullish trend, while those of larger rival Home Depot Inc. continued their bearish bent. And while the stock LOW, +1.72% pared its initial loss of as much as 3.4%, it had remained on track to open below its 200-day moving average (DMA), which many […]<\/p>\n","protected":false},"author":1,"featured_media":12990,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"video","meta":{"footnotes":""},"categories":[239],"tags":[83],"class_list":["post-12989","post","type-post","status-publish","format-video","has-post-thumbnail","hentry","category-investing","tag-featured","post_format-post-format-video"],"yoast_head":"\nLowe\u2019s stock holds bullish trend and keeps beating rival Home Depot\u2019s | iFintechWorld<\/title>\n<meta name=\"description\" content=\"Shares of Lowe\u2019s Companies Inc. bounced back Tuesday to extend their bullish trend, while those of larger rival Home Depot Inc. continued their bearish\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link 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