🌟HD bearish scenario:
We have technical figure Triangle in US company The Home Depot Inc. (HD) at daily chart. The Home Depot, Inc., commonly known as Home Depot, is the largest home improvement retailer in the United States supplying tools, construction products, and services. The Triangle has broken through the support line at 18/11/2020, if the price holds...
In Uptrend since 2012
Doube Top on Uptrend
Wait for correction on Fib 618
In uptrend then wait for buy
Clear Divergency by RSI
=Wait for correction down, also Harami bar confirms it.
When correction is ended
From w1 of 2021 I will open Long
TP 300$ will reach in April 2021.
HD closed at 247. Price target is 260. Home depot is a great stock. It’s just been trading sideways. Last price target was 250 and it hit that nicely but was unable to hold. The triangle I charted is getting narrower. Once price gets to the point it has to make a decision. Home depot is strong IMO. Home projects have been huge during the pandemic. That and blue...
I am very cautious this close to the top and thinking the economy will be heading much lower in the coming months BUT this is such a great company. They are very strong and going into a horrible storm season I think we will see some great profits. I won't be putting much into this being my outlook and it's close to the all time highs but it is a good buy non-the-less.
On long term basis, Home depot holds uptrend - price is trading above 1st standard deviations from 5- and 10-year means.
On short term basis, price is trading laterally - it is trading within 1st standard deviations from both 1-year and quarterly moving averages.
Moreover, current short term lateral range is outlined by the 1st standard deviations from...