As you see on the chart, HD has been consistently following this support and resistance trend, as you see it has been extremely parabolic after earnings and with the recent price upgrades. With that being said, it is extremely oversold:/
Since its been follow this trend, I will be aggressively shorting HD on a break of support at 279.70.
1st PT: 269
2nd PT: 261
3rd PT: 255
If HD continues to run through resistance and breaks 284...this will be invalidated!
Happy Trading!
Since its been follow this trend, I will be aggressively shorting HD on a break of support at 279.70.
1st PT: 269
2nd PT: 261
3rd PT: 255
If HD continues to run through resistance and breaks 284...this will be invalidated!
Happy Trading!
Trade closed: stop reached
Well, cant win em all:/ wouldve been a solid play but HD just didnt stop running! Will look into puts around 295
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Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.