Lowes (LOW): Wave 4 in Progress

**SUMMARY**

The weekly chart of Lowes (LOW) the DYI store of America is showing that 3 of the five waves are complete. Price has already declined to start putting in wave 4 which should retrace at least 38% of wave 3 rise. The subsequent wave 5 should take Lowes to an all time new high towards the $120s range.

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A closer look of the subwaves show that five blue waves can be labeled to be placed. Subwave counting allows a bit of qualification of the higher degree of trend labeling. The ABC (red) outlines the wave 4 potential pathway. The MACD should rise back up for the B wave bounce before declining again.

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