HD benefited greatly from the pandemic lockdown and the numerous stimulus checks that over-stimulated all nations' economies. The stock has now moved above its trading range and has sustained, aka held onto, those gains.
This patterns out the excessive revenues and earnings that were inevitably unsustainable for all of the companies that benefited from the brief surge of revenues due to the "over-stimulus checks."
This is the Weekly Chart to show that the Year over Year comparatives that harmed HD for a couple of years is now patterned out.
Martha Stokes, CMT
ttrader.im/learn-tv
Learn how to use the technical patterns of each market participant for better trade planning.
ttrader.im/learn-tv
Learn how to use the technical patterns of each market participant for better trade planning.
Related publications
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.
Martha Stokes, CMT
ttrader.im/learn-tv
Learn how to use the technical patterns of each market participant for better trade planning.
ttrader.im/learn-tv
Learn how to use the technical patterns of each market participant for better trade planning.
Related publications
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.