Home Depot may benefit from consumers misfortuneEntry level $238 = Target price $260 = Stop loss $233
Strong momentum in the housing marked.
Strong consumer spending trends.
High rate of refinancing due to lower interest rates, more disposable income to complete home improvements.
Unfortunately HD benefits from extreme weather events and disaster zones like the wild fires in California.
P/E ratio 23.
Yield 2.3%
Company profile
Home Depot, Inc. is a home improvement retailer, which engages in the sale of building materials and home improvement products. Its products include building materials, home improvement products, lawn and garden products, and decor products. It offers home improvement installation services and tool and equipment rental. The company was founded by Bernard Marcus, Arthur M. Blank, Kenneth Gerald Langone and Pat Farrah on June 29, 1978 and is headquartered at Atlanta, GA.
HD trade ideas
Next Week Is Busy for Home Depot and the Housing SectorBelieve it or not, housing is one of the strongest parts of the market in 2019 -- rivaling only semiconductors. Low interest rates and a lack of inventories are helping fuel the move.
The next week is big for the industry, with NAHB's sentiment index, housing starts and existing-home sales all due. Home Depot also reports earnings on Tuesday, followed one day later by Lowe's .
HD broke out to new record levels last August and has formed a tight basing pattern since. The stock has also held its 50-day simple moving average and its stochastics show a bounce potentially starting.
Pattern Double TopThe figure shows the formation of the double top at points A and B. Point C represents the pivot point of support. The change in trend in the breaking of the pattern is clearly observed, before point A is ascending, from point B it is descending and even breaking the support line. Similarly, in the change of trend from point B, a high volume in operations is observed. The data is associated with Home Depot during the month of July of this year.
$DH Home Depot Remains in Bullish ChannelHome Depot looks set to continue from the strong consumer spending environment and the thriving property market. Although the stock is trading at a relatively high 23 P/E ratio, further interest rate cuts could add extra stimulus to the stock.
Average analysts price target $233 | Overweight = expect repricing.
Company profile
Home Depot, Inc. is a home improvement retailer, which engages in the sale of building materials and home improvement products. Its products include building materials, home improvement products, lawn and garden products, and decor products. It offers home improvement installation services and tool and equipment rental. The company was founded by Bernard Marcus, Arthur M. Blank, Kenneth Gerald Langone and Pat Farrah on June 29, 1978 and is headquartered at Atlanta, GA.
Home Depot downgraded from 'buy' to 'neutral' Home Depot was downgraded ... it's already down about 1.3% pre-market.
Looking at the 4 hour chart, HD has been in an ascending channel since December of last year. It recently bounced off channel resistance, and this downgrade might cause it to fall to channel support.
In addition to the channel, notice that the RSI is overbought. Combine all that with the downgrade, and this might be a good shorting opportunity.
I may purchase a couple put options and ride them down for a week or two.
HD- Fed Edition.Top trendline was drawn weeks ago and just extended out of curiosity. That trend has held up pretty well having only been crossed once. We'll have to see if it holds again. Going back to July 31 with last rate cut by Fed we saw some red. If that's indicative of what's to come with this expected cut, this could set up perfect for a LARGE drop. Top trendline goes back to end of June, could be gnarly if it holds.
-MACD on this on lower time frames (1-2 hr or lower)seems kinda out of sync to me personally. So i'm trying to avoid looking at MACD.
-Accumulation/Distribution could be reaching a trend line heading up (currently 2 real points of contact)
-RSI another potential trend, however, hovering on overbought. (3 real points of contact)
-Stoch is just in like a triangle chilling up in overbought territory.
-MFI (not shown) approaching overbought, sitting around 63 with a potential upward trajectory.
My personal thoughts are gonna see a slight bit up on Monday, possible gap up Tuesday (as every tuesday), and then the cash of the pigs and bulls will rain down on the bears.
This is NOT advice. This is me screwing around for fun on a chart brought to my attention by another member of this community and doing my own research.
Home Depot (HD) BuyThis chart is messy, but please bear with me, as the analysis is too good to not include. To clean it up, I removed all indicators, but please note I do include indicators in all of my analysis. I was trolling HD all day yesterday waiting for the perfect buy signal. While I did time the low perfectly (highlighted triangle projections from morning yesterday), before getting into this trade (trade entered at 3:30pm yesterday) I wanted to make sure HD could gain some momentum before taking a position. HD is making overlap and with lower bottoms--which leads me to believe we are back in an uptrend. Also, the hourly indicators look really good for this. The key for me was the price action to break the .618 level of the last swing as well as, and even more key, price breaking the yellow line which is the 90 degree offset angle to the last larger swing.The green bar is measured move line and we can see there was some overbalancing. Fibonacci time analysis was also a factor in this chart (although not shown). I expect price, at a minimum, to get to the level $224.95 and we will see how price action responds at this level. The next level of resistance would be $226.68.
Happy Trading!
NYSE:HD
Analysis of HOME DEPOT 29.08.2019The price above 200 MA, indicating a growing trend.
The MACD histogram is above the zero lines.
The oscillator Force Index is above the zero lines.
If the level of resistance is broken, you should follow the recommendations below:
• Timeframe: H4
• Recommendation: Long Position
• Entry Level: Long Position 222.60
• Take Profit Level: 226.60 (400 pips)
If the price rebound from resistance level, you should follow the recommendations below:
• Timeframe: H4
• Recommendation: Short Position
• Entry Level: Short Position 216.90
• Take Profit Level: 216.00 (90 pips)
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