$HD Home Depot - Over Extended Heading Into Earnings$HD Home Depot - Over Extended Heading Into Earnings
Earnings this week before the open on Tuesday. Stock looks to be running out of gas after essentially doubling off the March lows. This has the potential for a "sell the news" post-earnings sell off.
P/E ratio currently sitting at around 28x - its highest level ever. The only other time it was ever over 25x was in January 2018 when it was about 27x. This was followed by about a -15% correction over the next couple months.
Medium term target: $250-$260 range by Oct
Note: Not investment advice.
HD
Home Depot $HD "brekout"$HD broke $259.29 out last week and ready for a new uptrend. However, the volume and rsi are still weak and just watch for more volume before get in.
Note: Lumber price is increasing so it may affect also HD performance positively.
12 months Consensus Price Target: $255.28
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Home depo my life please, its shit and I need to feelPossibilities Possibilities Possibilities Possibilities Possibilities Possibilities Possibilities
Spy just broke up secy style. Very very hard t line on it though. Gonna break at some stage but absence of a big pull back we gonna see moves. HD deffo not the strongest in terms of the shitty markets but people need to feel some with looking at their pleb surroundings 24/7. Big sex structure is already consolling shove last high. WHEN THIS BREAKS IT FUCKS HARDER THAN YOUR SHIT EX. WATCH PRICE THOUGH AND OVERALL MARKET.
SHIT SPY SHIT LIFE.
HOWEVER, SHIT SPY SENTIMENT = MONEY FOR THE NON PLEBS OF THIS COVID FUCKFEST
$HD ShortA major beneficiary of the nation-wide lockdown restrictions, Home Depot has seen an increase in value over the past few weeks. Currently, however, $HD is displaying an abandoned baby sell-signal on the daily chart, a day after strong earnings. Fibonacci retracement .618 @ $207. Target: $207-209.
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 $HD - Key Levels NextAt top of range but can breakthrough, keys to look at. It is at Top of BB band and has usually respected that. Healthy pullback very likely. Thing is though, post pullback, I believe we approach that 239 range and beat it. If we break, which is often what is occurring with HD, we likely go further and test ATH. Will follow up on this when the time comes. Check out the strength in this stock! Wait till pullback or set a buying area, I say between that buy zone I placed to begin accumulation.
HOME DEPOT ($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.