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HD trade ideas

Home Depot Undercuts and Holds Recent LowHousing stocks like Home Depot pulled back hard in May as the real estate market slowed. However, the bears may be throwing in the towel. The main pattern of interest on this chart is support materializing around $310. This was near the low on May 19, the same session that HD bounced at its 50-day simple moving average (SMA). It’s also near a price gap on April 5, immediately after the long Easter weekend. While this price area isn’t very obvious, stabilization here could be bullish. After all, HD just broke support at its 50-day SMA. That should be bearish, but where are the sellers ? Perhaps there are none. Next, housing stocks were overbought a month ago and had a sharp pullback. (HD’s 7.1 percent crash on May 11-12 was its worst two-day drop in over a year.) But now volatility is ebbing. Finally, stochastics have been in oversold territory. The overall macro environment remains positive for housing. Interest rates have calmed and the economy continues to improve. Numbers like starts and sales were very weak in April, but the underlying supply/demand balance remains favorable. That may draw more buyers to HD in coming weeks if it remains above the $310 area. TradeStation is a pioneer in the trading industry, providing access to stocks, options, futures and cryptocurrencies. See our Overview ​for more.
NYSE:HD
by TradeStation
Follow-up analysis $HD positionNYSE:HD One thing I do different about this specific option strategy is the trade analysis that I do for trade management. This would determine if I exit early at half of the debit or see it to expiration and risk full loss. Initial trade set up triggered entry 04/21 Debit Put Spread $300/325 14 May 21 expiry. Price needs to be below $325 at expiration for this trade. Since Price is showing weakness and overextension. Holding this spread 'til expiration.
NYSE:HDShort
by EllaineEscueta
HD Long William Alligator : the stock is currently in a bullish position because the candlesticks are above the Teeth, Lips and Jaw and the lines are “eating with an open mouth” this indicates that the stock is in a strong uptrend. RSI : the line is under 70, so the stock is not overbought. Candlestick patterns : there is a bearish engulfing which is a bearish confirmation. Overall : it can be interesting to take a buy position on this stock because the indicators indicate that the price is increasing. Entry price is higher than the current price for assurance and stop loss is set at -5%.
NYSE:HDLong
by lena_vf