Trading Journal Another bounce of 50 ma buy,
brokeout, and then had a nice consolidation price action and was looking for follow through action only to fail and close below 10 ema.
Sold all position
HD trade ideas
Home Depot sells CUPS with Handles Now?! 30%+ Move Inbound!When Did NYSE:HD Start Selling Cup w/ Handles? ☕️
Looks like NYSE:HD is introducing a new item for 2025 - the Cup with Handles! 🎉
I have a feeling this is going to be a BIG HIT! Just need to see XMAS RED➡️GREEN on the H5 Indicator before we go ahead and buy these new cups with handles.
I've added it to my watchlist and set an alert!
🎯$468
📏$532
Home Depot (HD) Analysis Company Overview:
Home Depot NYSE:HD , the largest home improvement retailer, leverages its extensive network of stores, robust e-commerce platform, and strategic acquisitions to maintain a dominant market position. The company continues to innovate and adapt to evolving consumer demands while capitalizing on macroeconomic trends.
Key Drivers of Growth:
Strategic Acquisition of SRS Distribution Inc.:
The acquisition enhances Home Depot’s market reach and diversifies its product offerings, particularly in specialty building materials.
This move is expected to drive revenue growth and profitability, strengthening its competitive position.
Projected Sales Growth:
Fiscal 2024 sales are projected to grow 3.8% year-over-year, showcasing Home Depot’s resilience and its ability to capitalize on consistent consumer demand for home improvement products.
Impact of Federal Reserve Rate Cuts:
Recent rate cuts are expected to stimulate housing activity, increasing demand for renovation and home improvement supplies, a key driver of Home Depot’s sales.
Strong Brand and Omni-Channel Presence:
Home Depot’s extensive store network and advanced e-commerce platform provide a seamless customer experience, offering resilience in both physical and digital retail markets.
The company’s reputation as a trusted supplier to both consumers and professionals enhances brand loyalty and repeat business.
Investment Outlook:
Bullish Stance: We are bullish on HD above $385.00-$390.00, supported by its strategic growth initiatives, favorable macroeconomic tailwinds, and robust operational performance.
Upside Target: Our price target is $570.00-$575.00, reflecting Home Depot’s strong growth potential and ability to navigate dynamic market conditions.
📈 Home Depot—Building the Future of Home Improvement! #HomeImprovement #GrowthStock #HD
Home Depot: Resistance Overcome!The Home Depot stock broke the resistance level at $421.56, thus activating our original alternative scenario. As a result, we now expect a slightly higher completion of the turquoise wave B before the price should move down during the last leg of the magenta (B) wave.
$HD with a bullish outlook following its earnings #StocksThe PEAD projected a bullish outlook for NYSE:HD after a positive over reaction following its earnings release placing the stock in drift B with an expected accuracy of 77.78%.
Bullish Cup & Handle Forming on HD3 year long cup forming with massive long term upside potential and good short term breakout potential as well. Strong ER acted as catalyst for support bounce off 381 and would expect the news and bullish bias associated with the price pattern to lead to significant breakout over the coming weeks.
HDWith Elliot wave counting, it is most likely when the 2/4 line has already broken that it will display a bullish section
The Rocket Booster Strategy In 3 Steps ExplainedToday as i was sleeping i kept thinking
about an old buddy of mine, who loves
talking about philosophy.
And now today philosophy is all i
think about.
I used to think everybody loved talking
about philosophy
But i was wrong.
Trading is both intelligence and
philosophy combined
You need a strong personal philosophy
to really survive in this market
I made a mistake as i was telling you
about the RSI...
there is something called the
“FAKE” breakout.I first heard of this
concept from Tim Sykes
And then i read about it in a trading book.
Full disclosure..
am primarily a Bitcoin trading expert
I talk about trading stocks
because it's what i use as therapy
also, this is what the community
Mostly enjoys reading about.
And i so use my technical
analysis skills
To share with you what i think
are the best stocks to trade.
Now with the RSI..
the fake breakout actually does not
mean the breakout strategy
Doesn't work
The fake breakout actually confirms
The buy signal
In this case, we are looking at
Home Depot HD
Which is in a breakout session
But the mistake i made was to
indicate the breakout at 70
on RSI
Actually the best indicator
should be at 60
Meaning do not buy a breakout
after 60 on the RSI
Even though this will
mean you won't catch all the
swing trades
But it means you will catch the best
swing trades.
Also, note that HD NYSE:HD
is actually related to the real estate market
Seeing this stock
As a buy signal means that
the real estate market is actually
a good buy right now.
This is why am re-recommending
this stock CAT NYSE:CAT again.
It also follows the rocket boost
strategy as well which has 3 steps:
(1) The price has to be above the 50 EMA
(2) The price has to be above the 200 EMA
(3) The price should gap up in a trend
This strategy is very good
for SWIING TRADING...
If you want to develop your own strategy
then that's fine.
But if you want a simple strategy that
Easy to follow then you need to learn more.
Rocket boost this content to learn more.
Disclaimer: Trading is risky you will lose
money whether you like it or not
Please learn risk management and
profit-taking strategies.
Are the Bears Shopping at Home Depot?Bears could be shopping at Home Depot as interest rates rise.
The first pattern on today’s chart is the $420.61 level. That’s where the home-improvement chain peaked in late 2021. It pushed slightly above that price area this month before reversing lower. Some traders may view that false breakout as a potential reversal pattern.
HD fell sharply about a week later, making a low of $404.37. The stock continued downward the next session and been mostly trapped below that October 21 low since. That may suggest that new resistance has developed.
Third, price action since the drop could be viewed as a potential bear-flag pattern.
Next, the 8-day exponential moving average (EMA) is near a potential cross below the 21-day EMA. MACD is also falling.
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Past performance, whether actual or indicated by historical tests of strategies, is no guarantee of future performance or success. There is a possibility that you may sustain a loss equal to or greater than your entire investment regardless of which asset class you trade (equities, options or futures); therefore, you should not invest or risk money that you cannot afford to lose. Online trading is not suitable for all investors. View the document titled Characteristics and Risks of Standardized Options at www.TradeStation.com . Before trading any asset class, customers must read the relevant risk disclosure statements on www.TradeStation.com . System access and trade placement and execution may be delayed or fail due to market volatility and volume, quote delays, system and software errors, Internet traffic, outages and other factors.
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$HD weekly chart ABCD harmonic. Post-hurricane idea.NYSE:HD
NYSE:HD , NYSE:LOW , and NYSE:WMT tend to perform well following natural disasters.
Here I have a nice ABCD harmonic setup taking us to 442.05 (1.618). We are currently trading @ 411. This is a 7.45% implied move higher.
Once we arrive to the pattern completion @ 442.05, I'll reevaluate, reduce long exposure, and assess a short setup for a standard retracement following the harmonic pattern completion.
my long signal didnt triggereasy to spot long signal buying the dip and buy the price action when the 5-8 ema cross under and back over the 13 ema and the price action that crosses that ema is a long signal. for me imo
Example of Theta Crush??bought 11 $430 call contracts at the beginning of the week in anticipation of upcoming earnings and out of nowhere a bunch of news comes out to negatively affect Home Depot?? Hurricane, dockworker strike, looting on the east coast, and now the Feds say they have no money to help Hurricane Victims??? HD has not moved this much all week. and now it moves in the exact opposite direction of where my contracts are set to expire?? crazy coincidence?? although my contracts expire worthless today I still have a price target of $500
HOME DEPOT Consolidation then rally until end of the year.Home Depot (HD) hit our $415.00 long-term Target as called on our previous analysis 5 months ago (April 24, see chart below):
It doesn't show however any signs at all of stopping here as the Channel Up has still significant upside potential before it prices a Higher High on its top. Being on its 2nd Bullish Leg and approaching the 1.236 Fibonacci extension, it is possible to see a minor short-term pull-back and then a more structured rise until the end of the year.
This is at least the pattern that the 1st Bullish Leg of the Channel Up followed and is that helped us pursue the previous ($415) target in the first place. The 1W MACD also shows the strong similarities between the two Bullish Legs.
As a result, our new long-term Target is $460.00 (marginally below the 1.786 Fibonacci extension).
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Home Depot clearly should be at a 1/2 trillionfollowing an easy cup and handle pattern you can see the natural target of $477.73 which is the 1.61 breakout target using the Fibonacci. I see Home Depot valued higher than current analyst valuation as a consumer. As a chart analyst $500 strong buy
Ladies and Gentlemen what do we call this??WHAT DO WE CALL THIS HERE PATTERN... AND WHAT DO WE DO WHEN WE SEE IT????
give me a 20 piece and 2 sides going into earnings. I posted this in a group of mine at 2:34 price being $398 and some change. #$420
Home Depot (HD) potential Buy setupReasons for bullish bias:
- Price is at a strong support
- Safe Entry at LH breakout (DOW)
- Fib golden zone
- Bullish divergence
Here are the recommended trading levels:
Entry Level(Buy Stop): 351.00
Stop Loss Level: 319.53
Take Profit Level 1: 382.47
Take Profit Level 2: Open
Cup of TeaA classic Cup & Handle pattern. With interest rates going down and inflation cooling off, the company will indeed benefit from increasing consumer spending.
Cup of TeaA classic Cup & Handle pattern. With interest rates going down and inflation cooling off, the company will indeed benefit from increasing consumer spending.
HD ShortI want to catch a NYSE:HD short on a higher low (of the slow bullish campaign) being taken over by a lower high on the way down for a break of structure. A nice R/R will happen here.
HD - Reaccumulation and Potential Bullish BreakoutHome Depot’s current price action is unfolding within a classic Wyckoff Reaccumulation pattern, which suggests the stock is positioning for a significant bullish continuation. The chart clearly outlines key subphases, each of which plays a crucial role in confirming the reaccumulation process.
Preliminary Support (PS):
The reaccumulation process begins with Preliminary Support, where initial buying interest starts to absorb the selling pressure, effectively halting the downtrend. This phase signals that stronger hands are beginning to accumulate shares, laying the foundation for the trading range.
Buying Climax (BCLMX):
Following the Preliminary Support, the Buying Climax occurs as the stock experiences a surge in buying pressure. This phase pushes prices up temporarily, establishing the upper boundary of the trading range. The Buying Climax is significant as it demonstrates that demand is starting to outpace supply, though the market remains within a consolidation phase.
Automatic Reaction (AR):
After the Buying Climax, the Automatic Reaction takes place, where the price retraces from its recent highs and defines the lower boundary of the trading range. This move represents a pullback that tests the strength of the buying interest at lower levels, confirming the establishment of the range within which the reaccumulation will occur.
Secondary Test (ST):
The price then enters the Secondary Test phase, during which it revisits the lower boundary established by the Automatic Reaction. This phase is crucial for confirming the strength of the support level at the bottom of the range. The lower volume during this phase suggests that selling pressure is weakening, reinforcing the bullish potential as the stock continues to accumulate within the defined range.
Spring:
The Spring phase represents a deliberate shakeout below the lower boundary of the trading range. This move temporarily breaks support, triggering a stop-loss run and shaking out weaker hands, including those who are bearish. The quick recovery after the Spring indicates that stronger hands are absorbing the shares at these lower prices, preparing for an upward move.
Test:
Following the Spring, the price typically retests the area just above the previous support. This Test phase is essential to confirm that the market has successfully absorbed any remaining supply, and that the price is ready to move higher.
Creek and Jump Across the Creek (JAC):
The "Creek" is a metaphorical resistance line that develops during the reaccumulation phase, representing the gradual rise in price over time, often with a slightly downward slant. It is where the price encounters consistent selling pressure that prevents it from breaking out. The Jump Across the Creek (JAC) occurs when the price finally breaks above this resistance line, signaling that the reaccumulation phase is nearing completion and that the market is ready to advance into a new uptrend.
Sign of Strength (SOS):
The Sign of Strength is the final confirmation of the reaccumulation process. This phase is marked by a decisive breakout above the trading range, supported by increased volume, which confirms that demand is now significantly outpacing supply. This breakout indicates that the stock is ready to transition into a new bullish phase, with the potential for significant upside.
Volume Analysis:
PS and BCLMX: Higher volume during these phases indicates strong buying interest as accumulation begins. The Buying Climax, in particular, is accompanied by a volume surge, reflecting significant demand.
AR and ST: Diminishing volume during the Automatic Reaction and Secondary Test suggests that selling pressure is being absorbed, confirming the integrity of the lower boundary of the trading range.
Spring and Test: A spike in volume during the Spring phase confirms the shakeout, while the Test phase shows that remaining supply has been absorbed, setting the stage for a bullish move.
Creek and JAC: As the price navigates the Creek, volume typically remains moderate until the breakout occurs during the Jump Across the Creek. This breakout is confirmed by increased volume, indicating strong buying interest.
SOS: The Sign of Strength is accompanied by a significant volume increase, validating the breakout and confirming that the stock is ready for a new uptrend.
Home Depot Set to Report Q2 Earnings Today: What to ExpectHome Depot (NYSE: NYSE:HD ), the largest home improvement retailer in the U.S., is set to report its Q2 2024 earnings on Tuesday, with analysts projecting slight declines in revenue and profit compared to the same period last year. With inflation impacting consumer spending, particularly on big-ticket home improvement projects, Home Depot (NYSE: NYSE:HD )is expected to see a modest dip in its financial performance. However, there are several key factors that investors should watch closely, which could influence the company's future outlook.
Earnings Expectations Amid Market Challenges
Analysts predict that Home Depot (NYSE: NYSE:HD ) will report $42.57 billion in revenue for the second quarter, a slight decrease from the $42.92 billion recorded in the same quarter of fiscal 2023. Similarly, net income is expected to fall to $4.48 billion, down from $4.66 billion a year ago. These declines reflect the broader economic environment, where inflation-weary consumers have cut back on discretionary spending, including home improvement projects.
Despite these challenges, Home Depot (NYSE: NYSE:HD ) has managed to maintain its position in the market. The company's ability to navigate a complex economic landscape, while still delivering solid financial results, underscores its resilience. However, the expected declines highlight the pressures that even industry giants face in the current environment.
SRS Distribution Acquisition
One of the most significant developments in Home Depot's recent history is its acquisition of SRS Distribution, a specialty distributor serving professional contractors in sectors such as roofing and pool markets. The $18.25 billion deal, which closed in June, is seen as a strategic move to bolster Home Depot's market share among professional contractors. This segment of the market is particularly important as big-ticket consumer spending slows.
By integrating SRS Distribution into its existing operations, Home Depot (NYSE: NYSE:HD ) aims to enhance its Pro sales ecosystem, providing a broader range of services to contractors. This acquisition not only increases Home Depot's market share but also positions the company to better weather the current economic challenges by focusing on a segment less affected by consumer spending fluctuations.
Technical Outlook
Home Depot stock (NYSE: NYSE:HD ) has exhibited mixed signals leading up to its Q2 earnings report. At the present time, it is trading at approximately $345.64 as of Monday, situating the stock below its five-, 20-, and 50-day exponential moving averages, indicating a strongly bearish trend. Nonetheless, indications of potential recovery have emerged. Notably, the stock price has exceeded both the 50-day SMA of $347.69 and the 200-day SMA of $344.19, signifying some underlying bullish potential. The stock has risen by 2.13% in Tuesday's premarket trading, marking a fresh start.
The Relative Strength Index (RSI) closed at 44.58 on Monday, signifying a sign of recovery.
Technical indicators, such as the Moving Average Convergence Divergence (MACD) and the Relative Strength Index (RSI), also suggest potential stabilization or recovery. The MACD indicator at 0.05 signals a buy, while the RSI of 44.53 indicates oversold stock. Additionally, the Bollinger Bands depict substantial buying pressure near the lower band, further reinforcing the potential for recovery.
Analysts' Outlook: Potential for Upside
Despite the current bearish trends, analysts remain cautiously optimistic about Home Depot's future. The consensus analyst rating on Home Depot stock stands at a Buy, with an average price target of $377.56, implying an 11.02% upside potential. Recent ratings from firms like Telsey Advisory Group, JP Morgan, and Truist Securities support this view, suggesting that Home Depot could see its stock price rise to around $385.33.
Conclusion
As Home Depot (NYSE: NYSE:HD ) prepares to release its Q2 2024 earnings, the company faces a challenging market environment characterized by inflation and reduced consumer spending. However, its strategic acquisition of SRS Distribution and focus on the professional contractor market provide a solid foundation for future growth. While the stock currently shows mixed signals, analysts believe there is potential for an upside, making Home Depot a company to watch closely in the coming months. Investors should pay attention to the earnings report and any guidance provided, as these will offer valuable insights into how Home Depot (NYSE: NYSE:HD ) plans to navigate the rest of the fiscal year.
Stock Earnings Watch: August 12th - 13thInvestors, mark your calendars! A few notable companies are set to report their quarterly results on Monday and Tuesday. Let’s take a closer look at what’s expected:
Monday, August 12th
Rumble (RUM 📹)
The video-sharing platform is expected to post an EPS of -0.15 and revenue of 19.69M. With a beat rate of 42%, investors will be watching closely to see if Rumble can outperform expectations. Last year, they reported an EPS of -0.15 and revenue of 24.97M.
TeraWulf (WULF 🐺)
TeraWulf, involved in cryptocurrency mining, is set to announce an EPS of -0.01 and revenue of 35.43M. The company has a beat rate of 40%, so it will be interesting to see if they can manage a surprise. Last year, they posted an EPS of -0.08 and revenue of 15.45M.
Tuesday, August 13th
Home Depot (HD 🏡)
The home improvement giant is anticipated to report an EPS of 4.50 and revenue of 43.37B. With a stellar beat rate of 95%, will Home Depot continue to deliver strong results? Last year, they reported an EPS of 4.65 and revenue of 42.91B.
🔍 As these companies reveal their financial health, it's crucial to pay attention not just to the numbers but to the broader implications for their industries and the economy as a whole. Stay tuned and keep your portfolios ready for any market-moving surprises!
#EarningsSeason #StockMarket #InvestmentInsights
