Tim Seymour Is Bullish On Lowe's

Speaking on CNBC's Fast Money, Tim Seymour recommended a long position in Lowe's Companies, Inc. LOW.

He thinks that the stock has an attractive valuation after it traded lower on weak earnings results. It was expensive and now it looks like a bargain, believes Seymour.

He also thinks that the housing trends, household formation, GDP and fixed private investments are improving and he sees that as another bullish sign for the name.

Seymour added that technicals are also bullish for the stock. He presented a chart which shows that Lowe's Companies bounced off its support of $64 at a very high volume.