$HD Target 358
Target 2 300
I am not your financial advisor, but I will happily answer questions and analyze to the best of my ability but ultimately the risk is on you. Check out my ideas, but also do your own due diligence.
If you want me to analyze any stock or ETF just leave me a comment and I’ll do it if I can.
Home Depot inside day and couldnt break above the previous day high and fell back. There is a chance that we rotate back to industrials this week and HD sees a bounce over the inside day high but im preparing for shorts below $406.00
Home Depot ($HD) is flagging and looks ready to break out.
First target is looking to break above the flag and then to lift that past the next fib level of $375. If we can close above $375, there is room to $420.
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...