📈 Trade Idea – HD (Weekly Chart)
Long bias on a high-quality setup.
Home Depot is showing early signs of a momentum shift while retesting a major long-term trendline.
Key points:
• Price is rebounding cleanly off the EMA200 weekly, a level that has acted as dynamic support multiple times.
• Momentum is building across indicators, with early reversal signals appearing.
• Structure remains intact: higher-timeframe trendline still guiding price upward.
• Theoretical upside potential: ~+20% toward the upper resistance zone.
Still early, but the risk-to-reward becomes attractive if momentum confirms in the coming weeks.
Long bias on a high-quality setup.
Home Depot is showing early signs of a momentum shift while retesting a major long-term trendline.
Key points:
• Price is rebounding cleanly off the EMA200 weekly, a level that has acted as dynamic support multiple times.
• Momentum is building across indicators, with early reversal signals appearing.
• Structure remains intact: higher-timeframe trendline still guiding price upward.
• Theoretical upside potential: ~+20% toward the upper resistance zone.
Still early, but the risk-to-reward becomes attractive if momentum confirms in the coming weeks.
Mike
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.
Mike
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.