Lowe's is due to report earnings tomorrow. It is expected to report an EPS of $4.47 on revenue of $24.97bn.

Taking a look at Lowe’s stock as the company is due to report quarterly earnings tomorrow. Currently, its stock is trading at $219.44 a share. On the basis of a technical outlook only, we can see that since June last year, it has been making gradual progress and growth as highlighted by the support along the white trendline. Up almost 25%. We can see that the week commencing July 31^st was a big week for profit taking and this has continued into the last couple of weeks. The price is now approaching a support level of $215.22, sitting along the 20-day moving average. A break below may see a test of support levels sitting along the 100 and then the 50 MA’s as well, or respectively, $210.61 and $206.45. A move below $206.45 would not necessarily mean a reversal trend and huge sell-offs will occur as the key support level along the trendline still exists ($201.53). It would be unreliable to take a look at the upside unless we see some consolidation either around the current level or along the moving averages. The indicators are still positive but showing signs of weakness for the shorter term. MACD seems like it is turning negative and the RSI has just turned into a neutral stance.