$HD building up to retest high's. 🔸️Ticker Symbol: $HD timeframe: 4 Hour 🔸️3X Bull Pattern 🔸️Investment Strategy: Long
TECHNICAL ANALYSIS: $HD looking to retest $332 with new guidance to buy back millions. We are currently on a nice uptrend, as you can see with our regression channel; money momentum is on the way up and our middle band depicts bullish trend. The price retracement to about the 50 is also a clear sign to look for some intraday trades going in to tomorrow's trading session. I will be loading up on some shares in the pre-market tomorrow to see how we react to $332!
We are at a major (but necessary) corrective wave on $AAPL, and I will be loading up positions waiting for a drop back to the lower 160's, potentially lower if price respects Fib retracement.
HDI trade ideas
HD:Bear market rally???Home Depot Inc
Short Term - We look to Buy at 311 (stop at 301)
A bullish reverse Head and Shoulders is forming. This is positive for sentiment and the uptrend has potential to return. Horizontal support is seen at 310. Further upside is expected although we prefer to set longs at our bespoke support levels at 310, resulting in improved risk/reward.
Our profit targets will be 339 and 345
Resistance: 340 / 370 / 420
Support: 310 / 280 / 150
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Home Depot Tries to Break Out Before Housing DataHome Depot could be attempting a breakout as investors await key industry data.
The main patterns on today’s chart are the falling trendline and the 50-day simple moving average (SMA). HD is attempting to push through both.
This is especially interesting because TradeStation data shows fewer than one-third of S&P 500 companies are above their 50-day SMAs. The fact HD remains above it shows the stock has spent more time bottoming than the broader market.
Next, MACD has been made higher lows for months as the stock made new lows. That’s a potential case of bullish divergence.
The 8-day exponential moving average (EMA) is also above the 21-day EMA.
Next, consider how the DIY giant has reacted to quarterly results this year. It tanked in February despite beating estimates. It tried to rally on strong numbers in May, but couldn’t get above the 50-day SMA. Such weakness isn’t a surprise considering market sentiment toward interest rates. But with that worry fading in the past month, will price react differently in the second half?
Traders could find out as early as this week, which features NAHB’s housing market index on Monday and housing starts/building permits on Tuesday. HD’s next quarterly results are due August 16.
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HD SELLHD in an established downtrend, overbought on several charts on various indicators. We haven't even seen weakness in housing, job losses, consumer cutting back HD has a long way to fall. Bought 26 Jul 29th $285 puts will add every $1.00-$1.25 increase in stock price, first pit stop is $250 range
HD watch for move to 296 or 270The gray bar on chart shows the resistance band, which was an earlier support. On the daily chart today there is a hammer candle above the 20sma while RSI is up to test 50. A higher trade tomorrow will be bullish, while a close back below the 20sma with RSI below 50 may lend to more downside.
On the 30m chart right now there is a possible mini double top. MA's are more bullish though, and the yellow short term support line needs to break.
HD SELL+ don't get sucked into bear market ralliesThe daily chart it's trading below the cloud, stochastics overbought, Williams percentage% overbought, in a downtrend, below 50 dma, below MA Ribbon, at Fibonnaci retracement .786. It's difficult to go long anything and get sucked into these bear market rallies in-between dumps.
Home Depot (NYSE: $HD) Breaks 0.5 Fibonacci Range! 👀The Home Depot, Inc. operates as a home improvement retailer. It operates The Home Depot stores that sell various building materials, home improvement products, lawn and garden products, and décor products, as well as facilities maintenance, repair, and operations products The company also offers installation services for flooring, cabinets and cabinet makeovers, countertops, furnaces and central air systems, and windows. In addition, it provides tool and equipment rental services. The company primarily serves homeowners; and professional renovators/remodelers, general contractors, maintenance professionals, handymen, property managers, building service contractors, and specialty tradesmen, such as electricians, plumbers, and painters. It also sells its products through websites, including homedepot.com; blinds.com, an online site for custom window coverings; and thecompanystore.com, an online site for textiles and décor products. As of December 31, 2021, the company operated 2,317 stores in the United States. The Home Depot, Inc. was incorporated in 1978 and is based in Atlanta, Georgia.
Low risk entry for HD swing putsPending home sales were lower than expected. HD will go down further, perhaps below 280, on the next selloff. The yellow bar on chart shows 300-302 resistance. White dot shows how high RSI is, which usually indicates a short term reversal as well (since this is 30min chart).
Considering how far price is away from 10/20MA's, and with 30min extreme RSI, I am buying puts for a short term reversal. Suggested stops are are partial exits between 302 and 303.50.
Bull or Bear??Do you feel it is time to pull back fish on HD?
Do you feel Bullish or Bearish about the market as a whole?
Are you buying dips or sitting out in cash?
Are you going Long or are you going Short on securities right now?
Are you tempted to buy the dip on your favorite stocks today? If you are, you may be a bull in a bear market.
But they always say in the long run, bulls will be okay. I do believe that but it is not my nature to watch my account go red while I wait. We are all different.
I see Wall street is still bullish on Home Depot. Short percent is very low at under 1%. There appears to be support trying to form under price, but will it be temporary?
It would seem it is against the odds that HD will fall. But is it? The chart says Yes, it will fall. Wall street says No and I see many analysts calling HD a strong buy.
There is a large structure at the top, and it looks like a head and shoulders or an ugly top. You may see it differently. Price is under the neckline. H&S tops are not valid until the neckline is broken as it serves as strong support while price is above it. The neckline becomes resistance after price falls below it. Folks who short this pattern often place their stop over the neckline and then trail the stop down if price continues to fall.
I love this stock. Am I bullish on much of anything right now? No
Would I buy the dip at this level? No but we are all different.
Will I buy the HD dip at a much lower level? Yes. I have alerts set and when I receive the text, I will re-evaluate.
Am I planning to jump off a building because SNAP missed earnings? NO (O:
I have wondered in the past why the stocks with the most gains can fall the most when we enter a bear market. I am guessing it is because there are more buyers in the more popular stocks than in the not so popular stocks. More buyers equals more sellers.
This is my first bear market since I started managing my accounts by myself. I have noted there are some securities folks are having trouble letting go of and they are holding on. HD may be one of those as this has been a slow decline.
Will they let go? I have noted when folks finally decide to let go, watch out below.
The impulse wave up for HD from the bottom, is very long.
No recommendation. Be safe//Laura
Earnings watch 5/17Earnings watch 5/17:
ONON
SE
DOCS
QUIK
TCS
HD
KEYS
JD
WMT
LVLU
Do your own due diligence, your risk is 100% your responsibility. This is for educational and entertainment purposes only. You win some or you learn some. Consider being charitable with some of your profit to help humankind. Good luck and happy trading friends...
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7pt Trading compass:
Price action, entry/exit
Volume average/direction
Trend, patterns, momentum
Newsworthy current events
Revenue
Earnings
Balance sheet
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+5% portfolio trades, capital risk management
Beware of analyst's motives
Emotions & Opinions
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Lack of planning & discipline
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pi RSI - trend momentum
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