HD trade ideas
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.
Home Depot On The Edge..US Consumer Trend Rolling OverI use Home Depot's stock. HD along with Walmart WMT,
as a proxy to the health of the US consumer economy, and stock market.
The idea here is that these stocks tend to lead the economy in either direction,
representing the actual trend of what the purchasing power of consumers will be
either up or down, 6=9 months out in both discretionary HD or non-discretionary spending. WMT
As the chart in Home Depot shows
there was a very bearish false breakout above 200 in the stock,
prior to the stock market peak in early September
followed by a complete straight down rollover in the stock
on the back of better than expected earnings this month.
My interpretation of the chart
shows that if HD should violate pattern baseline support around 168,
then Home Depot will become yet another a busted stock,
with downside projections to the 125-135 area.
If that were to occur,
it would certainly add further supporting conclusive bearish evidence,
that the US economy, and its stock market are in the process of "rolling over" to the downside
.....a very bearish interpretation indeed.
THE_UNWIND 11/18/19
NEW YORK
Home Depot en su C de (IV)Home Depot realizando su onda (IV).
Este es un desglose lo que sucede, aunque tengo mis dudas.
HD: Earnings Stock of the DayAlways a late reporting company, HD reported today before the market opened. HFTs were ready to gap the stock in the direction the algos perceived earnings. The chart patterns were setting up for a negative reaction. The stock is in the lower area of its trading range that has similarities to the S&P500 index chart's trading range pattern. Flow of Funds indicators show heavier than normal outflow of money from this stock. That means selling is rotation or distribution by Dark Pools.
Home Depot Look At How the Market is Rewarding Good NewsHome Depot, a very mportant US retailer,
who many use to judge it's performance,
as a potential guide to the overall strength of the consumer economy,
came out with much better than expected earnings, and guidance today , 11/13/18
Yet take a look at Home Depot's stock price chart.
I've included the institutional 4 hour chart for observation.
HD topped right after the important end of summer Labor Day holiday in the US
on 9/12/18 at 215.43 a share,.. over two month's ago !
Now some $40 less in value per share, Home Depot shareholders today have rewarded
the quarters better than expected number s and guidance by FALLING over 1 % as I write.
The point here,
is that good news is already BAKED into the stock of Home Depot,
and like so many more company stocks right now,
that have simply "Rolled Over"on the chart.
Large money institutional traders ,
have long since exited Home Depot at prior elevated valuations,
leaving only the 'buy the dip" retail clients
and late to the party investors, to pick up the crumbs.
THE_UNWIND
11/13/18 10:15 AM
NEW YORK
HD - enter postion For people that always ask how do you know where to get in. This is a good example. You want to wait till this gets over this last pivot lower (trapping shorts) and above the 200MA. Once and only once it gets above that you can take the trade to the 100MA. That will be a good place for it to rest a day or two and either break higher or use the 100MA to show resistance. So always look what's above you and the last pivot of weakness.
Would love to see it cross the 50 day MABouncing off the bottom and ready for when the market confirms uptrend.
