The gray bar on chart shows the resistance band, which was an earlier support. On the daily chart today there is a hammer candle above the 20sma while RSI is up to test 50. A higher trade tomorrow will be bullish, while a close back below the 20sma with RSI below 50 may lend to more downside.
On the 30m chart right now there is a possible mini double top. MA's are more bullish though, and the yellow short term support line needs to break.
On the 30m chart right now there is a possible mini double top. MA's are more bullish though, and the yellow short term support line needs to break.
Comment:
It is not quite a hammer candle. The long bottom wick shows the morning drop reversed. However, in looking at stochastic and RSI on daily, this could be a short term topping candle or price continues up tomorrow.
Comment:
I did not trade HD today. I was skeptical of the move so avoided this stock. I will check it Friday for continuation up to 290 or a reversal. I may make a day trade or wait until Monday. I am keeping HD on watch.