On Friday, Lowe's got an upgrade to its Relative Strength (RS) Rating, from 70 to 74.
IBD's proprietary RS Rating measures technical performance by showing how a stock's price movement over the last 52 weeks compares to that of the other stocks in our database.
History reveals that the best stocks often have an RS Rating of above 80 in the early stages of their moves. See if Lowe's can continue to show renewed price strength and clear that threshold.
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Lowe's has climbed more than 5% past a 248.99 entry in a first-stage cup with handle, meaning it's now out of a proper buy zone. Look for the stock to offer a new chance to pick up shares like a three-weeks tight or pullback to the 50-day or 10-week line.
Taking a look at revenue and profit performance, the company has posted two quarters of accelerating earnings growth. Top line growth has been less impressive, coming in at -5% in the most recent report. Lowe's is expected to report its next quarterly numbers on or around Nov. 19.
Lowe's holds the No. 5 rank among its peers in the Retail/Wholesale-Building Products industry group. Hillman Solutions is the No. 1-ranked stock within the group.
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