HOME DEPOTThe Covid-19 happened for a reason for HD, a perfectly re-bounce follow exactly the HH-LL trend line. Also, the price follow exactly the movement of RSI.
The uptrend still continuos in a smaller time frame until the earning. However, I expect a nice bounce back for the next year. We should confirm the price fail to go over the uptrend 1 more time for a huge bounce back. When the Covid-19 is truly over, check the signal and Buy a Call Put to join the down team.
Trade ideas
HIGH PROBABILITY ITS GOING UPHELLO AND WELCOME TRADERS IM ANAS
the price has been respecting the trendline to go up very good to bounce and go up
also, we have a good signal from the RSI to go up
also, the bigger timeframe is showing going up
I say highly it's going up to the first arrow and could be more to the second arrow
GOOD LUCK
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HD - this "V" looks like an icicle that kills - swing putsEarnings are over. Despite the sharp rally all the way back up to highs, RSI never crossed 60, and 7-day RSI (useful in strong trends) is at bear resistance under 65. The 10sma (orange) is still under 20sma (yellow). First target is 220-222.
If you want to see the icicle, switch to a line chart!
HD FAILED TO MAKE EARNINGS SHARES FELL BY $3.04 IN PRE MARKETShares of Home Depot (NYSE:HD) fell 2.5% in pre-market trading after the company reported Q1 results.
Quarterly Results
Earnings per share fell 8.37% year over year to $2.08, which missed the estimate of $2.26.
Revenue of $28,300,000,000 up by 7.27% from the same period last year, which beat the estimate of $27,280,000,000.
Guidance
Home Depot hasn't issued any earnings guidance for the time being.
Revenue guidance hasn't been issued by the company for now.
Home Depot $HD $HD hit the pivot resistance yesterday. Regardless earning results will be announced next week, after hit the pivot it is pulling back and holding above
20SMA so far with a bearish candle though. If it cannot stay above, there are support1 and support 2.
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Home Depot $HD - Key Levels NextAt top of range but can breakthrough, keys to look at. It is at Top of BB band and has usually respected that. Healthy pullback very likely. Thing is though, post pullback, I believe we approach that 239 range and beat it. If we break, which is often what is occurring with HD, we likely go further and test ATH. Will follow up on this when the time comes. Check out the strength in this stock! Wait till pullback or set a buying area, I say between that buy zone I placed to begin accumulation.
HD - time to pullback, stochastic will turn lowerI try to make only technical-based decisions, but let's be honest, sometimes it is difficult to keep our biases at bay. This is my case with HD. The blue line shows a possible resistance area, and I see no reason the stock should be up this high. Stochastic has been elevated and soon will head lower. It might be a real downturn or a pullback to the 20sma. Either way this makes a good swing trade.
HOME DEPOT ($HD): Essential Business Uptrend Scalp/Swing✨ New charts every day ✨
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Home Depot has been doing business through COVID, earnings were good last quarter and expectations seem reasonable for this quarter's earnings on the 19th.
Assuming this uptrend continues until earnings, there should be a a nice scalp long or two in here. Let's look for a setup.
Resource: www.earningswhispers.com
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1. Fractal Trend is signaling an uptrend (Blue bar color) on the 30 minute chart, and that means we can take long setups with our strategy.
2. With the strategy, we are looking to open a long position after a reaction from either a bullish orderblock plotted by Orderblock Mapping or a S/R level plotted by Directional Bias.
3. S2 and S3 look like they will act as support in the current uptrend and offer us a great entries.
4. Our target for our S2 entry (Scalp trade) is a retest of R1, with our stop loss just below the previous gap from the S2 entry.
5. The target for our S3 entry (Swing trade) is the right below the previous swing highs at ~245, our stop for the S3 entry is set below the S4 levels as we expect those levels to support price if we have a correctionary pullback.
6. Exit any positions if stop losses are hit or if Fractal Trend turns bearish (Maroon bar color) indicating a downtrend.
Home Depot (HD) BullishPurchased Calls in Home Depot (HD)
I am not licensed or certified by any individual or institution to give financial advice.
BTO 4 Calls of Home Depot on May 01, 2020.
Stock Price--$218.18
Expiration: May 15, 2020 (May standard)
Strike: $220.00
Cost of Trade/Ask Price: $5.45
This one is going to be a quick turn around due to short term Expiration. I think HD is good for the long term, but I chose this short term position for three reasons:
(1) Affordability--Go too deep In The Money and it gets expensive really fast
(2) Price of Stock proximity to Strike at time of position entry--Just a touch over two dollars puts me In The Money meaning a higher ROI in a
shorter amount of time
(3) Bid-Ask Spread price--I looked at the Spreads of other Expirations and other Strikes and didn't like them. This Spread at time of position
entry was thirty cents ($0.30 or a $5.15 x $5.45 Spread). Most other Spreads on other Strikes were a couple dollars apart.
$225 Short Target for Home DepotFirst off, please don't take anything I say seriously or as financial advice. As always, this is on opinion basis. That being said, let me get into a few of my insights. Home Depot has been recently bullish in terms of analyst calls, and obviously as a short pattern the next target for a quick turn over should be around the $225 mark. Yes, this may have long potential but there are much higher growth stocks and I am simply looking at this from a day trading perspective.