HD is in a late-stage Accumulation / early Phase B-C structure. The 52-week low of $289 hit intraday on earnings day before recovering to close at $302 — a textbook Spring or Selling Climax (SC) action. The oversold bounce on heavy volume is consistent with Composite Operator absorption: institutions tested supply at $289 and absorbed it. The prior trend was Mark-Down from $427 → $289 (~32% decline), consistent with a completed Distribution that ran from late 2025 into early 2026.
Current Phase: Accumulation Phase C — Spring tested, now in potential Sign of Strength (SOS) rally attempt
Price-Volume: High-volume intraday reversal from lows on earnings = institutions absorbing, not distributing
Most Probable Next Move: Grind higher toward $310–328 over next 2–4 weeks as the market confirms the Spring; failure to hold $295 negates this and opens a retest of $289 or lower
Current Phase: Accumulation Phase C — Spring tested, now in potential Sign of Strength (SOS) rally attempt
Price-Volume: High-volume intraday reversal from lows on earnings = institutions absorbing, not distributing
Most Probable Next Move: Grind higher toward $310–328 over next 2–4 weeks as the market confirms the Spring; failure to hold $295 negates this and opens a retest of $289 or lower
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Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.