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HD trade ideas

HD Starting the year strong with a bounce off support zoneHD lagged the last few months, just like AMZN and ITB, but the overall chart still sports a bullish configuration. Stock hit new highs in August and is above rising 200-day. Decline from high retraced 1/2 to 2/3 and formed a falling wedge, both of which are typical for corrections within a bigger uptrend. Stock is finding support from the lows extending back to late September. Expect a breakout and continuation of bigger uptrend. Re-evaluate on close below 260.
NYSE:HDLong
by trendinvestorpro
1
Traditional|HD|Long and shortLong and short HD TA: The idea is for both scenarios, the activation of one and the scenarios will serve as a pinning/breakdown of the blue zones (Screenshot attached). I have identified two regression trends, the first trend is upward, the second trend can be either consolidation for further price rise, or unloading for further fall (Screenshot attached). In the second regression trend, i highlighted a triangle consisting of the formed support and resistance lines, the result of working out this figure may also be an unobvious scenario, so both options are considered (Screenshot attached). The entry zone to Long is determined by the breakdown of the triangle resistance level and fixing in this zone (or its breakdown). The take zone in this case is the green zone formed by the fibo level to determine the price and the local fibonacci level. The stop zone can be a return to the support level (the former resistance level of the triangle and consolidation in it). The red arrow also indicates a possible alternative growth scenario with a retest of the support line (Screenshot attached). The short entry zone is determined by the breakdown of the previous local minimum and fixing in this zone (or breaking it). The take zone is 2 green zones at once, it may be better to use this to close the deal in parts. The first take zone is determined by the support level of the triangle and will be relevant both when working out the support level and when it breaks through. The second take level was selected using the fibonacci level to determine the price. The stop zone can be in the first case a return to the blue zone where the trade was opened, in the second case a return to the triangle and fixing in it. The red arrow also indicates a possible alternative growth scenario with a retest of the resistance line. (Screenshot attached). There is also a discrepancy with the RSI indicator (Screenshot attached).
NYSE:HD
by Henry_Ross