HD has strong fundamentals & has just begun an uptrend. Set a stop loss at the indicated line when opening the position. On breakout of resistance line go to trailing stop loss.
Roughly 2:1 risk to reward ratio.
HD is sensitive to moves in SPY which has been tempermental lately so keep that in mind as you trade.
1. Home Depot is nearing three distinct support indicators that converge at the 290.00-300.00 range. The 200 EMA, trend line from October 2019, and trend line from March 2020 all meet within the 290.00-300.00 range. Price currently sits above this range, and tested 300.00 in the previous few months. The three supports in this range should serve as a launch point...
White is the preleminary key code I made - Most probable because Price action has bounced off the 20 EMA at the current price level.
Blue is a more recent and aggressive key code.
Orange is litterally the move right behind the current one.
If you follow any of the videos I make I talk about my millionaire mentors setup for Divergence plays. You will notice...
My millionaire Mentor Richard taught me his divergence play set up and said if HD ever comes down start looking for Divergence.... So here we are. We have Divergence and Keycode is set to a strong play in the past where price action is contained inside of it at at least 95% or better.
I made a key code of the price action then found an exact match to this move in...
Home Depot trading in strong zone...cuurently in One hour correction phase ... But can buy above 327 with SL 315 AND RIDE IT TOWARDS 375 IN NEXT ONE MONTH...
IF IT BREAK SUPPORT LINE THEN IT WILL ENTER IN THREE HOUR CORRECTION PHASE WHICH WILL TAKE STOCK TO LEVELS 285 IN NEXT 3 MONTHS
I am writing this analysis a little after the triggering signal as I watched the stock move up. The red and green boxes still indicate targeted movements (as detailed in prior analysis and below), however, I have looked for potentially stronger entry points for put options. As I previously mention, the stock may continue to move up in contradiction of the...
Hello Traders !
First of all, this is not a professional analysis nor an advice of any kind. I’m only sharing my thoughts.
This week, Home Depot is testing a strategic resistance level, represented by the yellow trendline, at around $314.90. This trendline hasn’t been broken since Sept ’18.
If HD successfully closed above the trendline, then we will have...
HD has formed a reversal pattern today with hammer on top with decreased volume indicating bull exahution, also divergence on indicator. I believe it will start to fall from next week
I hope you are enjoying my analysis, ideas here are for entertainment and education these are not trading advice. Dont forget to like , follow me and check my other ideas
Home depot had a good run when market was red. Now its has started its downward hourney. There is good divergence on indicator as well as increased volume. It should start falling to support level mentioned in my previous chart. Good strategy will be a call credit spread.
Ideas are for education and not trading advice
Open SHORT position at HD for +10% gain of drop 295$ to 270$.
Reasons - rates US 30 T is 1.8% and ifliation risks acure, it will demolish all benefits for homebuilders and customers whom will spend thier new income for travel and leasure not for building and fixing. It will lagging 2-3 month until in will be obveous, hard to anylise particular time when banks and...
I have been eyeing this for days, HD has been on a mission for over a week now. Historically, each time the price level is reaching the supply zone it got a good pullback and from technicality, it needs a healthy pullback before going higher. Combined Powell to speak and quad witching Friday, I am confident to see the downside. I opened a small position 282.5P 3/26