timwest
Short

Home Depot (HD) top formation

BATS:HD   HOME DEPOT INC
775 2 4
The rally in economically-sensitive housing stocks has bordered on EUPHORIA from my perspective and now that there is evidence of strong distribution of shares, there is reason to suggest that a further correction amounting to 15% may occur over the next three months.

Expect violent rallies after each level of support is broken. This is typically the case after a stock has had such a strong, steady gain.

There are 10-days of trading action at 67 and 13 days at 67.50 so that is the most important resistance besides the gap-resistance at 66.50. There are 8-days of trading at 66.50 which is roughly today's high. Any of these levels should keep a lid on HD             shares.

Risk $3/sh. Reward $9.

1:27PM EST Mon, Feb 25, 2013
Tim
Subscribe to my indicator package KEY HIDDEN LEVELS $20/mo or a discount for a year and join in the trading room KEY HIDDEN LEVELS here at TradingView.com
oops
3 years ago
I think you got robbed Tim. It looked toppish and perhaps too much noise with M&A rumours around HomeDepot ? Whats your action plan now, playing again a possible broadening formation instead H&S ?
Reply
Nickmail
3 years ago
check your chart - it still in a uptrend but has 4 signals of bearish divergence/// need to work it out// get ready

Reply
Ideas Scripts Chart
United States
United Kingdom
India
España
Italia
Brasil
Россия
Türkiye
日本
한국
Home Stock Screener Economic Calendar How It Works Chart Features House Rules Moderators For the WEB Widgets Stock Charting Library Priority Support Feature Request Blog & News FAQ Help & Wiki Twitter
Private Messages Chat Ideas Published Followers Following Priority Support Public Profile Profile Settings Billing Sign Out