HD PUTS -I will be looking to play puts below 298.95 to recent lows
-Next I will be looking to get back in puts below 293.30
HD trade ideas
$HD bearish continuation? $HD slowly plunges since the beginning of this year. not much negatives news besides the overall supply chain issues and inflations. but the most reason why it took a dive is the short sellers.
there's been high percentage of short seller since the beginning of this year making $HD to a bearish mode until now. but the percentage of short seller starts to fade about 21% since march. but we still don't know
how many institution finish their shorts positions. In my opinion this is a good buying opportunity for long since its sitting in support line at 299.00 after its long rally.
HD average move per day is $5.00-7.00 per day.
Below is my ideal entry for day trading or scalp play.
HD: Day trade or scalp target play: 04/19/22
Buy call above 303.36 sell at 305.20 or above.
Buy puts below 297.19 sell at 295.17 or below.
option open interest: ideal expiration date: 5/20/22 6/17/22 8/19/22
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HD SHORT -looking for a short down to 293.30
-as long as we can get a clear continuation down we will have an opportunity for puts
-Looking to enter after 1-2 candlestick confirmations
Home Depot Inflation killerHome Depot will and will always remain to be profitable and with the cost of goods increasing very quickly, well that just means sales will be through the roof and with the competitor being Lowes home improvement i don't think there's much to worry about.
HD - Tradable bounceHD formed a mini double bottom with bullish divergence seen between price and RSI.
THere is a fair chance of it rebound back towards it's recent high of 339. Whether it can break higher remains to be seen
Initial stop just below the recent low of 293.
Disclaimer: Just my 2 cents and not a trade advice. Kindly do your own due diligence and trade according to your own risk tolerance and don't forget that money management is important!
Trade Update: Close over yellow line breaks consolidationIf HD calls will work, I would like to see a quick move over the yellow line and over 310.
Changing Directions - Buy HD Swing Calls under 298I have to be fast with this one. Please see the chart indicators.
As I was describing in comments of my previous Swing Put post, you can recognize the Elliott wave pattern without knowing much about it. I only use the concept of 3- and 5-waves to make trading decisions.
Yellow dots show three waves down that complete a five wave pattern (3 down + 2 up). There should be a tradeable bounce after this. Also, red line indicates 3 waves down that match with the RSI-7 and stochastic %K dips (in green ovals).
Notice how RSI was much lower with the first two yellow dots, as compared to today. If price moves up tomorrow then this will be bullish divergence. Even if price goes a lower on Thursday RSI may still stay higher than the previous two drops.
Looking at Stochastic %D you can also see each yellow dot corresponds with a wave down. This is the third one below 20, which leads me to look for a counter move that will make a good trade. I have a very small position of 14Apr 300 calls and 13May 320 calls. If the idea does not work and HD goes below 295 I will exit with very little capital at risk.
HD - Long OpportunityI was looking at HD on 1h and found that price is at a cheap zone as per the ProTrader set up. Any retracement above 298 is opportunity to go long. It will attempt to reach marked levels. Let's see how it works out.
$HD slowly coming back up?$HD slowly coming back up after a long downward momentum similarly with $LOW. i personally don't know why it keeps going to downtrend with not much negative news. i believe the stock got over value and analyst tries to lower the price target to prevent the bubble to burst.
with the inflation and shortage going in the nation consumer is creating a panic buying creating a high supply and demand for retailers and might continue to happen for the past few weeks or months until the inflation subsides.
here's my personal take playing $HD
$HD: Day trade or scalp target play: 04/11/22
Buy call above 312.30 sell at 315.17 or above.
Buy puts below 307.92 sell at 34.16 or below.
option open interest: ideal expiration date: 4/22/22 , 5/06/22 or 5/20/22
Hello everyone,
welcome to this free technical analysis . ( mostly momentum play )
I am going to explain where I think this stock is going to go over the next day or week play and where I would look for trading opportunities
for day trades or scalp play.
If you have any questions or suggestions which stock I should analyze, please leave a comment below.
If you enjoyed this analysis, I would definitely appreciate it, if you smash that LIKE button and maybe consider following my channel.
Thank you for stopping by and stay tune for more.
My technical analysis is not to be regarded as investment advice. but for general informational proposes only
$Home depot is over sold Home Depot is oversold imo, beat earnings and price of goods are steadily going up from building a fence to a simple DYI project like tile or carpet... tools are more expensive especially the power tools and well in general home depot should outperform Lowes.
$HD Has A Falling Wedge With A Nice Support Below For BounceHome Depot has been hit hard lately and has been in a long falling wedge downtrend due to the most recent economic conditions. Looks like a small amount of support has been found around the $293 area for a nice bounce play. If Home Depot can hold up above the $293 area in the coming week then I think it has more room to run into the resistance area of $321 for a nice move to the upside.
Home Depot earnings 5/17Home Depot (HD) reported Q4 January 2022 earnings of $3.21 per share on revenue of $35.7 billion. The consensus earnings estimate was $3.20 per share on revenue of $34.8 billion. Revenue grew 10.7% on a year-over-year basis. The company said it expects fiscal 2023 earnings growth in the low single digits, or earnings of approximately $15.92 per share, with revenue slightly above $151.15 billion. The current consensus earnings estimate is $16.13 per share on revenue of $153.88 billion for the year ending January 31, 2023.
Great risk : reward long entry here, imo. Heading into April Spring weather, death cross completed, sitting at major support & 52 week low, earnings in 6 weeks.. Here's levels on the 1 day chart:
Q1 April 2022 Consensus:
EPS: $3.67
Revenue: $36.44 B
P/E: 19.8
Div/yld: 2.14
52 week high = $420
52 week low = $299
SMA200 =$350
SMA150 = $359
SMA100 = $367
SMA50 = $337
breakout = $342
R3 = $336
R2 = $330
R1 = $323
pivot = $317
S1 = $311
S2 = $304
S3 = $298
breakdown = $292
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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Theta:
iron condor
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WAVE B LOW IN PLACE IN HOMEDEPOT RALLY TO 342Wave structure is now placing today low as wave B I will now look for a nice rally back to 339/342 focus 341 over the next 5 to 6 td
Does HD have the strength to move higher? Swing Put EntryI am not sure if HD can muster up the strength to move up towards 320 or the daily 20sma, which would be a great place to buy swing puts. I see this 30min consolidation and stochastic is bearish. I do not like the daily stochastic here to enter swing puts but RSI is bearish and there is a clear path from 300 to 280 if weakness continues.
I see a low risk trade here, and maybe also a day trade, as I will exit swing puts if I do not like price action or 30min close over 306.30-307.
@Burning-Theta Recently posted more detailed thoughts on this stock here:
Triple Bottom/Pull Back FishingHome Depot fell from appears to have formed a head and shoulders top and has fallen quite a bit.
Triple bottom noted and prices are very close at the 3 bottoms.
If I were to enter this I would place a stop below lowest bottom/298.40. Bottoms are hard to call though especially with the market in a downtrend as of late.
The top has fallen to the 100% mark but can fall to a greater fib level. You can measure from the head to the neckline and project it down to find the 100% mark. Tops can fall less or more than this.
LOW and HD trade very close together. When one moves, the other seems to go with it.
The long and short term moving averages look bad right now.
No recommendation
Home Depot - Double bottom hinting a return to the upsideHome depot has formed a double bottom and on the 2nd bottom, the bullish harami will confirm the upside once prices break out of US$307.00. We are likely to see the first target at the supply/resistance zone at US$318.84
HDIf HD can hold the 300 level again it can bounce back into 309.
Puts under 300 can work for a move down into 292, 285.
Trade Idea: 290P 4/9/22 under 300.
HOME DEPOT LONGHonestly Home Depot is at a pretty stable support level( at 300) that it hasn't broken over the last year... That's not to say that it wont break under. I think That HD will go back up to the 330-340 range within in the next couple of weeks.
MACD is in a downtrend momentum but that can all change the market had some pull back the last couple of days after a crazy rally.
I think buy early May we should see some positive MACD. Which I think will take Home depot back to the 400 a share range.
RSI has it oversold and its been like that for the last 2 months. Hopefully with the market stabling and things coming to a close in Ukraine we will see home depot go on a little bull run.
