HD trade ideas
HD out of consolidationSince April, HD has been trading sideways in between 315 and 300
Price finally picked a direction and pushed towards 280 , making the 300 level a strong resistance.
Last week we saw a first attempt to break above that resistance and failed, proving that it is a strong level (Also psychological level)
Watching to see which direction it will resolve. Maybe another retest of 300, if we get rejected again, could retest lows at 280.
If we push above and stay there, could once again move towards top of the channel at 315
$HD with a Bullish outlook following its earnings #Stocks The PEAD projected a Bullish outlook for $HD after a Positive over reaction following its earnings release placing the stock in drift B with an expected accuracy of 75%.
5/4/22 HDHome Depot, Inc. (The) ( NASDAQ:MSFT )
Sector: Retail Trade (Home Improvement Chains)
Market Capitalization: $325.831B
Current Price: $315.31
Breakout price: $319.40
Buy Zone (Top/Bottom Range): $313.75-$299.15
Price Target: $337.20-$340.60 (1st), $367.50-$372.80 (2nd)
Estimated Duration to Target: 42-44d (1st), 99-106d (2nd)
Contract of Interest: $HD 6/17/22 330c, $HD 7/15/22 340c
Trade price as of publish date: $7.06/contract, $6.60/contract
$HD Home Depot Bullish SharkPosted this one the other day, but wanted to follow up.
Clear impulsive wave down with a 1.13 Bullish shark to reverse momentum.
Reaction and confirmation low, with clear accumulation and a bullish engulfing candle on the 4HR here.
ADX & OBV bullishly diverging
Expanding volatility with a clear upside direction.
RSI nearing the control zone with the money flow and STOCH both coming up as well.
HD: Reversal H&S + Descending TriangleMain Pattern: Reversal H&S
Daily Pattern: Descending Confirmation Triangle
Short below 293
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 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
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.
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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...
*options use 100x leverage you could lose everything*
There are many types of options trading strategies and positions, simple to sophisticated & hybrids. I group them into theta, delta or mix strategies and bull, bear or neutral positions. There's a buy side and sell side to every trade. If you check the open interest (OI), you can see how liquid it is. Check how wide the bid vs ask spread is.
Theta:
iron condor
iron fly
covered call
cash secured put
calendar spread
collar
Delta:
call
put
straddle
strangle
debit spread
credit spread
Bull:
call
put credit spread
call debit spread
cash secured put
Bear:
put
call credit spread
put debit spread
covered call
Neutral:
straddle
strangle
iron condor
iron fly
collar (often used for downside insurance)
calendar spread (short or long time)
Options important variables:
Strike = share price
itm, atm, otm = strike position
Expiry = Date of expiration
Value = H, L & Mark
Liquidity = bid vs ask spread
Direction = put or call
OI = open interest
V = volume
CP = chance of profit
IV = implied volatility
Delta = price
Theta = time
Vega = volatility
Gamma = momentum
*3x lucky 7s of trading*
7pt Trading compass:
Price action, entry/exit
Volume average/direction
Trend, patterns, momentum
Newsworthy current events
Revenue
Earnings
Balance sheet
7 Common mistakes:
+5% portfolio trades, capital risk management
Beware of analyst's motives
Emotions & Opinions
FOMO : bad timing, the market is ruthless, be shrewd
Lack of planning & discipline
Forgetting restraint
Obdurate repetitive errors, no adaptation
7 Important tools:
Trading View app!, Brokerage UI
Accurate indicators & settings
Wide screen monitor/s
Trading log (pencil & graph paper)
Big, organized desk
Reading books, playing chess
Sorted watch-list
Checkout my indicators:
Fibonacci VIP - volume
Fibonacci MA7 - price
pi RSI - trend momentum
TTC - trend channel
AlertiT - notification
tickerTracker - MFI Oscillator
www.tradingview.com
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:
