HDD trade ideas
HDHD 2-4+ Week horizon
I see 2 channels on this chart. A main downward trend channel (blue) and the past month or two price action bounced from the 200ema and seems to have created a new upward channel (purple).
For the 2nd time now, price action seems to be respecting the purple uptrend channel and hopefully it will remain this way for the next couple of weeks. Additionally price seems to be moving at the EMAs.
Key area is 282-285 area. Around this area is where I see a resistance from 61.8% fib and the upper boundary for the downward channel (blue). If Price action breaks this area, there is a good chance of a target 2 hit and possibly reaching target 3.
MACD histogram on the daily and weekly seems to be losing downward momentum for a possible bullish move. Stochastics on the daily time frame is at oversold level for a possible bullish move while around the 40 level on the weekly time frame.
Also, summer is around the corner and with interest rates at at its lowest, I anticipate a lot of home buying, renovations, and new home constructions.
Disclaimer
I am not a registered investment advisor and do not offer investment advice and recommendation. All my post is not a recommendation, advise nor a suggestion and should not be used as a replacement for investment advice from a qualified licensed professional. All my post is for, information and entrainment purposes only. You, the reader, bear full responsibility for your own investment and trade decisions and should seek the advice of a qualified securities professional before making any investment or trade.
Short Home Depot - CLASSIC Wyckoff DistributionThis chart is displaying a classic wyckoff distribution pattern. Keep a tight stop at $284. Targets 1-3 are on the .618, .5, and .382 retracement levels. Keep a cool head, this one will play out over the next couple months.
Entry - $269
SL - $284
Target 1 - $235
Target 2 - $216
Target 3 - $198
R/R - 2 (T1)
the b[AI]te's weekly insights -- HD 2021-02-01center stage image
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our system found that HD received the best image over the course of last week.
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we see a week positive correlation with our image indicator. We therefore assume that prices are driven by facts rather than emotions and reflect an accurate picture of the companies current state of affairs.
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ATTENTION
our algorithms define ATTENTION as the overall number of stories and opinions that appear for a given security each day.
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our algorithms define IMAGE as the averaged sentiment value extracted from all opinions received for a given security per day.
HD golden zone opportunity?Recently broke out of daily downtrend line. Might be retracing into golden zone.
Home Depot catching the trend short HD has been a short idea due to macro situation and continues to trend short. Having the right Reward to Risk ratio and Money management remains paramount. Since we are not extremely late to the trend but still are late, one would be advised to take a smaller position size of maybe 1% - 2% of your trading portfolio.
It also isn't the highest score trade as it lacks MACD confluence but it has a decent chance of turning out well.
$HD - perky!Green zone might get activated in anticipation of scheduled protest this upcoming weekend!
Going Long HD for a 5 day swing tradeHD is looking very strong against the NAS100 and confirms with LOW. Looking to go long on the open in the am.
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.
Home Depot Earnings Play Good support line. Consolidation almost complete and ready for earnings rally.
$HD looks great this week, targeting 278HD bouncing off that demand, tight, ihs, whatever confirms ur bias its bullish.
