Home Depot is at nose-bleed levels from my perspective.
The rally is nearly linear for over a year (note the tight regression and the 60% rise in price) and you can clearly see the bulls have had their party for a long time now.
It is astounding how HD has refused to go down along with the other homebuilding stocks and lumber prices and the financial engineering...
I first want to say that this pattern could be broken. I would wait for a clear sign that we are reversing. It could break through and go parabolic like COST, MA, V has over the years. SO WAIT FOR THE SIGNAL! It's not a perfect bearish crab, but combined with the indicators and the recent parabolic run up, it is possible.
HD has been trending down for over a month and has been settling in a nice trading range. I would like it to go a little higher to minimize risk but it still may be a good time to start a short position. I could see a move up towards 80 but I think the move down is going to be much more aggressive with a target of near 70. There is a short term support but I...
Momentum strength deteriorating in HD on the Weekly chart. Price has been in a parabolic move and is in sore need of resting.
Similar looking upswing to the Nikkei's recent accent.
No short confirmation yet, but certainly on the radar.
any positive data tomorrow will be an opportunity to enter short position. We did not miss this last 15 months and only had a few short and long trades all winners. Hope this time will be the same. If you decide to enter short position, make your stop loss at recent swing high and target price $65.95. Join us www.woowtrading.net
The rally in economically-sensitive housing stocks has bordered on EUPHORIA from my perspective and now that there is evidence of strong distribution of shares, there is reason to suggest that a further correction amounting to 15% may occur over the next three months.
Expect violent rallies after each level of support is broken. This is typically the case after...
FYI the company will report Feb 26, 2013 I see 2% downside move, and if it does not hold can revisit previous swing low $60 but the chance is small before earning. Last time we predicted that price will hit $60 from $65 and hope the same now. WeI want to short from Friday's close with target price $65-$66 with stop loss at recent swing high $68. Join us www.woowtrading.net
So far the best stock in $DJI may look tired and need to rest. It was an awesome run and still can continue upside but it looks downside chance is higher now. Short at 9-ema with target price $60.44 previous upside target price with stop loss at recent swing high $65.92. For option traders there is higher chance to make up to 100% from this trade woowtrading.net
