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inthemoneystock (< 20)

Home Depot & Lowes Finally Pause



April 17, 2012 – Comments (0) | RELATED TICKERS: HD , LOW , RTH

The two leading home improvement retail stocks are finally retreating today. The Home Depot Inc (NYSE:HD) and Lowe's Companies Inc (NYSE:LOW) are trading slightly lower on the session after making new 52 week highs yesterday. Both of these stocks remain above the daily chart 50, and 200 moving averages which indicate a strong technical chart position. This small pullback should not be viewed as anything serious at this time.

Short term traders should watch for intra-day support on HD stock around the $51.27, $50.97, and $50.36 levels. The intra-day support levels for LOW stock is $31.90, $31.75, and $31.50. All of these levels could help these stocks have small intra-day bounces.

Nicholas Santiago

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