HD trade ideas
Home Depot..It''s Running To $200 a ShareHome Depot ,HD, an important stock in the Dow Jones Industrial' Average,
is up over 2 % today in a breakout move that I believe
could run the stock back to the $200.00 a share threshold very soon.
I have always believed that Home Depot,is one of the market's true bellwether stocks
and with that a key stock designation,makes it a stock to watch as a market leader.
It lead the market's decline in 2018, and is leading it's strong trend advance in 2019.
Right now, Home Depot's stock is reflecting the overall markets
optimism that an economic bottom in the United States was probably hit in late 2018,
keeping in mind at all times that the market is a discounting mechanism
and that the immediate future continues to hold bright promise
for a unexpected rise back in consumer demand ,and purchasing power in 2019,
which for Home Depot, has a direct and immediate impact, on their bottom line, and on the price of it's stock.
HD Last 192.35
THE_UNWIND
2/15/19
NEW YORK
Home Depot (HD) - Conolidating For a New Leg HigherConsolidating for a new leg higher, a break above 180.73 opens up 188.60, followed by 192.00
SL: 176.00
NYSE:HD
HD BUY (HOME DEPOT, INC)Hi there. Price is forming a continuation pattern to the upside. Wait for the price to hit the bottom of the pattern and watch strong price action for buy.
Some possible scenariosIt looks to me like an inverse head and shoulders is forming the right shoulder. If that breaks out I will look for a target of high 190s, after which it could either continue higher, or finish a right shoulder on the massive head and shoulders signalling the top of the market before heading to new lows. Some bullish divergence showing in the RSI looks promising.
HD - Neutral Very similar setup to my previous EA post. Longer term flag formation. Could have legs on the downsite. RSI and stoch, as well as 50 and 200 day MA also point toward this being the case. Bounce from 168.80 on good volume would also be a nice trend reveral and long opportunity. One to watch..
Dow Stocks Home Depot (HD)Again this stock has a higher run up and not much data available at the higher end
Unlike the other stocks a drop in price nearer the 2000s , was significantly more comparable to the 08 crash,
Cant see much support with the VPVR at the higher time frames
HD Elliot BounceHD increase in sales, oversold and is reaching its 5th elliot wave bounce. Projecting 22% increase in next month.
Inverse H&S or....Black Friday is days away. The rotation out of the tech sector may find a home at HD. It showed relative strength on a down day and has been range bound for weeks. It is prime for a break out. However, the direction of the breakout will be up to the finish this week. I will look to exit my long calls if HD closes below $1170.60.
