vlad.adrian
Short

Home Depot - Bearish divergence and no demand bar

NYSE:HD   HOME DEPOT INC
155 2 7
Home depot             seemed like a good sell two weeks ago. Now it's even a better sell. Explanations on chart. I have not decided yet if I am going to take this trade.
davidm22
2 years ago
Nice Call and I agree, looks like a really nice set up to pull back at least the 94 level. Seeing large divergence on the MACD and the high volume with no big movement is a nice clue to a change in direction. Two weeks ago the last move up was still pretty strong, using the MACD Histogram which would have made me pause. Plus it was reaching new hight after breaking out from the previous double top. A strong breakout often has a least two waves up before exhausting and the solid pullback is an indication it is losing momentum. Might be a good place to buy an in the money put to sit on for a while.
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minbari PRO
2 years ago
Very nice!
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