Lowes (LOW): Wave 4 in Progress

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**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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**Legal Disclaimer**: I am not a financial advisor nor is any content in this article presented as financial advice. The information provided in this blog post and any other posts that I make and any accompanying material is for informational purposes only. It should not be considered financial or investment advice of any kind. One should consult with a financial or investment professional to determine what may be best for your individual needs. Plain English: This is only my opinion, make of it what you wish. What does this mean? It means it's not advice nor recommendation to either buy or sell anything! It's only meant for use as informative or entertainment purposes. </center>

Please consider reviewing these Tutorials on:

[Elliott Wave Counting Tutorial #1](https://steemit.com/bitcoin/@haejin/elliott-wave-tutorial-1-by-haejin)

[Elliott Wave Counting Tutorial #2](https://steemit.com/bitcoin/@haejin/elliott-wave-tutorial-video-2-zig-zag-and-flat-corrections-how-to-recognize-and-label-corrective-waves)

[Elliott Wave Counting Tutorial #3](https://steemit.com/bitcoin/@haejin/elliott-wave-tutorial-iii-how-to-label-and-apply-triangle-price-corrections)

[Laddering](https://steemit.com/bitcoin/@haejin/an-effective-buying-and-selling-strategy-laddering-a-tutorial-on-to-cast-a-ladder) and [Buy/Sell Setups](https://steemit.com/bitcoin/@haejin/when-to-buy-and-sell-using-elliott-waves-a-tutorial). 

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[@haejin's Trading Nuggets](https://steemit.com/bitcoin/@haejin/haejin-s-trading-nuggets-all-learned-through-tonnages-of-failure-experiences)

[Essay: Is Technical Analysis a Quantum Event?](https://steemit.com/bitcoin/@haejin/essay-is-technical-analysis-a-quantum-event)

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