In recent weeks, we’ve seen countless businesses (both private and public) close their doors in response to the COVID-19 pandemic. That said, home improvement retailers remain open for business as usual as many individuals may have more time on their hands to do one or two home improvement projects they’ve been planning.
Two major home improvement retailers are best known in its sector… Home Depot and Lowes. Both remain open as essential businesses, but one recently announced a wage increase over the other and extended its hours.
As a result, financial professionals at Barrons, Dow Jones Newswire and Marketwatch have each released initial statements. I discovered this financial information using my paid research software, and therefore you have a jump-start on hundreds or even thousands of aspiring traders right now as you’re reading this.
With only three financial professional firms to have hit the newswires so far, one can only imagine that multiple others may share a reaction in the minutes, days or hours ahead of us as we approach today’s opening bell.
While it may have a smaller market cap, Lowes (NYSE: LOW) announced just last night a $2 increase in hourly wages for all workers in the United States and Canada and extended their hours to stay open longer than industry rival, Home Depot.
Higher pay over its primary competitor gives Lowes an edge when seeking part-time or seasonal employees. Additionally, extended hours provide Lowes’ staff more time to sanitize their facilities and replenish shelves in an effort to remain fully stocked, both of which induce trust from consumers.
Not only do I believe this financial catalyst may soon hit press releases from firms such as JP Morgan and The Wall Street Journal, but when pairing my decade of trading experience and technical analysis with the stock itself, it could be setting up for at least one profitable trading opportunity to end the week.
On the last trading day of the week as I look to trade for profit and enjoy my weekend with my wife and two kids, I’ll be keeping an eye on Lowe’s 20-day simple moving average line, indicated in green in the chart above. Should Lowes trade above it, I’ll make a bullish trade and pay myself as quickly as possible. Inversely, should Lowes trade below it, I’ll take a bearish position and make the most of a possible selloff to end the week. There’s a chance for profit in both directions today, and I expect Wall Street to be following along.
I’ve said it before and I’ll say it again… Bull market or bear market, with the right trading mentor laying out the right trading plan sourced by Trackstar’s proprietary financial professional data for you, you have profit potential in both directions on Lowes (yes, a home improvement retailer of all things) today.
Yours for TrackStar trading,
Davis Martin
America’s #1 Premarket and Day Trader
Disclaimer: This is not investment advice. This article is for information purposes only and opinion-based on financial advisor data across a selection of websites. Investors should be cautious about any and all investments and are advised to conduct their own due diligence prior to making any investment decisions.