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PLAY > New Plays Thursday, June 07, 2001
New Split Plays   New Candidate Plays   New Momentum Plays
(We update our stop losses daily at the CURRENT PLAYS page.)

New Split Plays

LOW - Lowes Companies $74.00 +1.92 (+4.70)

Lowes is the countries second largest home improvement retailer behind the guys in the orange bibs. Although, if CEO Robert Tillman has anything to do with it, Lowes won't be second to the orange folks for long. The retailer just announced a 2:1 split that will be payable on 6/29/01. We are therefore entering this play in hopes of a split run into the payable date two weeks from tomorrow. Looking at the chart, LOW just broke out of a two-week base and set a new closing high. The only drawback we can see is that volume came in light on the breakout. Only 2.3 million shares were traded as opposed to the three-month average of 3.3 million. Support should be coming in around $70 and resistance is today's high (and close) of $74. Traders thinking about getting into LOW should look to do so on a strong open and break above $74. Volume will naturally be lighter since tomorrow is Friday, so more conservative traders may wish to wait until next week to get a true read on the stock.


Picked on June 7 th @ $74.00
Change Since Picked 0.00
Stop Loss @ $68.00   
 
Interactive Chart Quote News First Call on LOW
 

New Candidate Plays

None

New Momentum Plays

None

New Plays Index

 


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