Tradimo_Official

Home Depot short

Short
NYSE:HD   Home Depot, Inc. (The)
Harvey had hit the United States hard, causing serious damage. Now Irma stands almost on the doorstep and could put another one on it. But if Irma Florida should still miss, the damage should not be as high as currently expected in many places.
HD increased strongly and opened an up gap after another. But the momentum and dynamic have been weakening and a nice doji was build yesterday. Here you could think about a short trade. The stop loss can be set at the high of the doji candle, the take profit could be at 152, which creates a very good risk-reward-ratio.
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.