HD Broke trend and hit Key zone (Resistance) looking to short all the way to $274.30, at this level we have a good resistance but if it breaks it can fall all the way to $263.50. 2Wks to 1month.
Your channel is a little off. It held it fine. I know I was short at 284 and got out today at 284.50. Actually I have a very small open short. 295 and 303 will be hard to get past. Especially 303. I could see a wick bring it past that to maybe 307 but by 303 it’s back on watch for short to 272 for sure. Ultimately Home Depot will be below 200 on the next correction. Most likely 161 at some point. So if you are an investor or looking to reeenter the market long for a decent length hold , patience. Not sure exactly when but it will be here.
vgallardo
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@CJS04, thanks for the input , I see what you mean. my Channel is a bit off but I believe that HD will fail to break the Supply zone and also the market correction is due up. Will see if it plays out. Thank you very much for checking out my chart, greatly appreciated!