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LOW stock price showed a trend reversal from the lower trendline.
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Buyers are accumulating the stock to regain the swing top of $250.
Lowe’s Companies, Inc. (NYSE: LOW) stock price was trading in an uptrend and was in the bulls’ trajectory for the past sessions. Recently, LOW stock witnessed profit booking, laid off the initial gains, and showed a dip toward the 200-day EMA. Furthermore, during the retracement, sellers charged their muscles, tried their best, and brought strength by pushing the price below the 200-day EMA. However, the bulls tried to retain the gains and took support on the lower trendline.
LOW stock has become investors’ favorite nowadays, and huge open interest in the option chain was witnessed, indicating the investors’ madness. As per the option chain, there is a massive put writing on the strike price of $220 of 10 Million shares, which was trapped, and soon a rebound may be seen due to the anxiety among the investors who
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