I love the retest from underneath to the 200MA on the weekly.. People are getting all over this company and this retest could be a nice little trap for the next leg down. I have 2 exits with the lower one the Lambo trade!
I like this break of support on the weekly chart for a entry with it coming back down again to the 100MA on the monthly. It was there recently and could make it back again. If it doesn't break this support could be a good entry for a long term play.
So far at 8:13am this looks good. If we get over the entry line this could be a nice little day trade using weekly options that expire today. little rip for 20 some odd bucks is some nice cash on an option trade. Wait for the close of the first 5 min candle for conformation if you have a small account and can't take a hit if it reverses.
AMZN - Lotto play.. If you have the money to play around. You can go out about a month or 2 and buy the 1400 area put on AMZN.. that would put you on the 100MA.. Something to put on your watch list for sure. If we break this pennant it's all bets are off..
Here are 2 possible exits on todays trade for HD. HD missed earnings, so 2 hard stops are the 100MA on the daily and the 100MA on the weekly. If we blow buy the daily the weekly should be the final stop for the day.