HD trade ideas
$HD possible bounce to 216 then target Lower low at 204Bullish reversal candle with large volume suggest bounce for 2-3 days targeting 216 then continue falling to main support above 200 at 204-203 . also possible to extend this bounce to broken trend at 221 to re-confirm it for 3rd time and fall from there .. remained short for long time frame
HD: Still in an uptrend, but large correction loomingI know this sounds crazy, but I have been eyeballing HD for potential Short for a bit. Home Depot is a leading indicator that the economy or housing market is taking a turn. If we see the economy and housing market pull back near the end of 2020 as many predict, we could see a correction all the way down to its larger, ascending support, all the way down to the $180-185 range. Here's how it may turn out... forgive my cool arrow art.
We are currently in a short term uptrend, howver, the current support line has broken through. This could simply be a throw under as we have bullish divergence on the daily and the FIBs show a nice rebound zone here. I think we may see home depot pop back up again temporarliy. However, if we do not establish a higher high, or hit the same high as before and start a double top pattern, we could be in for a ride down to the major support line.
HD to fill ER Gap200 EMA acting as support as it has done consistently in the past for HD
Now entering oversold territory so I'd like to see some consolidation around $215 before a move to the upside
HD Breaking Support. $209 target on fibHD broke support and looks good to hit $209 in my amateur opinion. Feel free to comment if you agree/disagree.
Home Depot Stock Market Supply And Demand AnalysisDaily downtrend waiting for pullback into supply before looking for shorts.
Hopefully the Stock market can give a correlations trade.
Home Depot Bearish Divergence Playing OutHD weekly chart had a bearish RSI divergence. The stock started breaking down on November 18th & has broken down through the support trendline this week as it nears the first potential pullback level.
There is a lot of call activity in this name today in the January 3, 2020, $230 calls.
HD Long PositionPotential long entry for HD is in the works. The stock has seen a recent drop due to the latest earnings report. After losing ~10% due to the negative market reaction, there may be an opportunity to go long. I've taken note of the following:
- Approaching 200MA which can serve as support
- Chart is currently along the lower bollinger band
- Stochastic indicator is under 20; if it curls upward over 20 this can be a bullish sign
- RSI is oversold @ 30
I'll be keeping my eyes on this to see if there is a partial reversal in store
HD bounce off of 213.90, Target climb to 217$.This trade is definitely risky due to market volatility pero ni pedo compadres!
BUY HD Its holding resistance Could break due to economic news tomorrow so watch that but looks to be setup if it holds for the end of the day
$HD Broken trend with huge volume suggest further decline to 214Strong drop from the top at 239.3 broken YTD trend - test and confirm break - most of indicators are over sold as it has more than 10% correction from recent top . its looking to close previous gaps at 214.8 - 208 -204 stoploss for this idea at 223.5
RISKY long on HD.. are you in?..Recommended 30% risk only .. i.e. usual trade for this size ticker is 1000 shares, go in small at 300 shares and trail this one on the way up.. catching a sharp knife, trying to pick the bottom - so relatively tight stop and either it goes or it doesn't!.. see chart -- close up view in comment section.. Happy trading!
HD - bulls need to hold the lineI reviewed this chart the other day, I liked the volume and the trend line confirmation (3 touches). But with the v-rally selling off by about 50% I have my guard up. We're seeing continuously high volume here, higher than the previous visits to the trend-line.
I'm not quite bearish here. But I wouldn't advise a swing entry until we revisit the trend line and prove we can hold it. We closed Friday near low of day, which leads me to believe we'll visit the trend-line either Monday or Tuesday.
If we can hold that level I still like the risk reward.
My line in the sand is a close below $216.88
Home Depot friday trade setupEntry level $223.45 = Target price $230 = Stop loss $ 221
7&12 MA's crossing a reliable buy signal.
Middle bollinger band support as the upper and lower expand.
Nice reversal off support lets see if it can continue, trade will be abandoned on any market weakness.
HD Daily range playWatching a solid support develop on the HD Daily. Increasing bullish volume off of near oversold earnings sell off. Bounced nicely off of lower support showing similar RSI levels previously on the same trend line. Volume profile giving hints of little resistance back to the top of channel.
All Rise Home DepotIt’s time. Structural support, oversold, bullish stock. It’s time for a rebound folks! Home Depot for the long run.
