HDI trade ideas
HD - Testing Strategic Resistance Hello Traders !
First of all, this is not a professional analysis nor an advice of any kind. I’m only sharing my thoughts.
This week, Home Depot is testing a strategic resistance level, represented by the yellow trendline, at around $314.90. This trendline hasn’t been broken since Sept ’18.
If HD successfully closed above the trendline, then we will have to wait for the confirmation in the next week candle as it has to open and close above the trendline, then HD is bullish again.
Otherwise, it might try to visit 38.2% Fibonacci retracement level at around $288, which happened to previously work as a resistance level in Aug and Oct of 2020, let’s see if it will act as a support as well.
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Option trading exposes you to a high risk of losing your capital, never invested in any idea more than what you can afford to lose(5%).
If you follow the trend - looks very bearish Zooming out on the weekly you can see the range. And for those that have been around for a few years or more probably see what I see. A pretty bearish pattern forming. No Home Depot is not going to 40 bucks but it will be breaking 200 and then some.
Home depot---> the last breathHD has formed a reversal pattern today with hammer on top with decreased volume indicating bull exahution, also divergence on indicator. I believe it will start to fall from next week
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Home depot---> started its journey to homeHome depot had a good run when market was red. Now its has started its downward hourney. There is good divergence on indicator as well as increased volume. It should start falling to support level mentioned in my previous chart. Good strategy will be a call credit spread.
Ideas are for education and not trading advice
Short HD; you can do it, I can help.A couple of indicators are showing divergence for the past week or so, as HD has melted up choppily. It needs some relief and is being sustained by erstwhile investors scrambling for a safe investment in a volatile bond market when the banks can't be counted on to manage their risk. I'd suspect that this could continue a little bit, but within the next week or so as the market changes again this should take a pounding.
Note the marked divergences and the weakness of the indicators after we passed the shaded area. Today might well be the double top we need to leg it down.
The way I see it, the weak technical picture hides an interesting scenario; bond yields calm, money flows back into more conditional investments like tech (this will keep happening to a lesser extent everytime yields 'decline' and consolidate) and away from HD. Bond yields increase and the market panics. Bond yields stay the same and people go back to their riskier bets. In all scenarios HD and other builder, stocks decline in the interum. Perhaps they'll pickup before earnings but they need price discovery now.
Home Depot - Done?I am leaning in the side of Home Depot being toast. I will wait for the candles to close and prove it though. Still want to see if it can pop to the 308s or not
home depot -- will return home soonHome depot had a great run when whole market was red. It has finished its 3 week bull run and now has ended in oversold territory. Recently broke a bull flag. Overall trend in home run is long but it will do a pull back soon . Till 291 level and then i am hoping that it will bounce.
I am going to start a call credit spread 21 days ahead, or but a put. I am short term bearish on HD.
One more little push and then implosion Should be ready to topple soon. I am thinking it heads for a retest or March lows from last year in a correction that’s coming. Just pump it a little more boys cause that’s what Wall Street does and then the floor comes out and the new people and kids are like what happened? This is obscene. An investigation needs to be done. Hahaha. No kids. It’s just how the market works.
HD bearish back down to 290Looks to respect the channel
Just gonna play a bearish put spread of some sort
Broad market somewhat weak
Options markets are wide in this stock and therefore suck, but i think it's worth the fight to get filled.
I'm long the April 290 puts and will sell another strike against those before end of day to leg a debit spread of some sort... not sure what yet.
Depends on whether I'm +\- by end of day because if it were to drop enough today i'll just take it off
Worst case scenario it breaks above the channel in a dramatic way and I'll have to address that
Home Depot Break and Retest Price Actionnice and steady uptrend for home depot the retest has already happened now we can chose to go long with long call buy call options market open
Home Depot Should Topple SoonWatching that 304ish area pretty closely.. Looking for signs of rejection. This over the course of the next serveral months has a far fall to take. If you are a day trader, might be a few bucks to make. If you are a swing trader, that short should be a good one.
Missed out on HDA very good long term company.
Would have liked to enter around 265 but never took up the opportunity.
I will most likely wait for a pull back before entering now but i will keep an eye out.
$HD Breaking Out of Consolidation?$HD has been consolidating since August 2020. It's now testing the upper area of resistance. $HD reported earnings toward the end of Feb and the market sold it off (report summary below). I'll be watching this to clear and close above the green box of consolidation at which time I'll be looking for a low risk entry. Ideas, not investing / trading advice.
From earningswhispers.com :
Home Depot (HD) reported Quarter January 2021 earnings of $2.74 per share on revenue of $32.3 billion. The consensus earnings estimate was $2.63 per share on revenue of $30.5 billion. The Earnings Whisper number was $2.74 per share. Revenue grew 25.1% on a year-over-year basis.
HD AT LONG TERM RESISTANCEAs you see on the chart, HD has been consistently following this support and resistance trend, as you see it has been extremely parabolic after earnings and with the recent price upgrades. With that being said, it is extremely oversold:/
Since its been follow this trend, I will be aggressively shorting HD on a break of support at 279.70.
1st PT: 269
2nd PT: 261
3rd PT: 255
If HD continues to run through resistance and breaks 284...this will be invalidated!
Happy Trading!
HD - close to break out or bearish reversalHD hit big resistance line which it it could not break two times. if it break its then $300 plus incoming below that we can see $250s again. next two days would give a proper indication. Citigroup had price target of $288 which it hit.
HD ShortHD Broke trend and hit Key zone (Resistance) looking to short all the way to $274.30, at this level we have a good resistance but if it breaks it can fall all the way to $263.50. 2Wks to 1month.
HD looking very strongHD has been flying since the low on March 5th. It looks strong enough to go for an ATH.
