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HOME DEPOT INC. DL-,05

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HDI trade ideas

HD bearish scenario:🌟HD bearish scenario: We have technical figure Triangle in US company The Home Depot Inc. (HD) at daily chart. The Home Depot, Inc., commonly known as Home Depot, is the largest home improvement retailer in the United States supplying tools, construction products, and services. The Triangle has broken through the support line at 18/11/2020, if the price holds below this level we can have possible bearish price movement with forecast for the next 4 days towards 263.44.00 USD. Our stop loss order should be placed at 281.29 USD if we decide to enter this position. 💚fundamentals- The retail sales report released by the Commerce Department showed spending decelerating as the holiday shopping season approaches amid a lack of forthcoming fiscal relief from Washington.
NYSE:HD
by legacyFXofficial
RectangleStop would be mid rectangle whichever way rectangle breaks/above or below MR Targets listed for up and for down A rectangle pattern is not completed until a break out has occurred A Rectangle is a continuation pattern that forms as a trading range during a pause in the trend. The pattern is easily identifiable by two comparable highs and two comparable lows. The highs and lows can be connected to form two parallel lines that make up the top and bottom of a rectangle . Rectangles are sometimes referred to as trading ranges, consolidation zones or congestion areas. I have noticed sometimes a stock breaks out of rectangle only to return to it..IE Visa HD was also in a rising wedge pattern but has dropped out/pierced bottom trendline at 271ish Not a recommendation
NYSE:HD
by lauralea