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$LOW | 12/13-12/17 | Watchlist #4 $LOW $260 bounce (Bounce off 260 for calls) Technical analysis: Bull flag breakout on the hourly chart News catalyst: "Lowe's holds a Financial Outlook event. The home improvement retailer is expected to focus some of its commentary on operating margin opportunities. Expect some analysis following the event on whether or not Lowe's can close the margin gap with Home Depot (NYSE:HD). Shares of Lowe's jumped 6% last year after the event featured some strong guidance." - Seeking Alpha
NYSE:LOWLong
by MalcolmInTheMoney
HD Triple Support Convergence1. Home Depot is nearing three distinct support indicators that converge at the 290.00-300.00 range. The 200 EMA, trend line from October 2019, and trend line from March 2020 all meet within the 290.00-300.00 range. Price currently sits above this range, and tested 300.00 in the previous few months. The three supports in this range should serve as a launch point for price, and price can retest the support before more upside. 2. The lower end of the support zone (290.00) was a notable resistance point on two different occasions during October 2020. Now it acts as a strong support, and price should hold on to this level with much strength. It is a good confirmation to the other trend lines. 3. Relative strength index shows a repeated pattern that has been followed by significant upside on two recent occasions. For RSI to reform this pattern, price needs to pull back to the support level and consolidate. After a confirmation of the support level and a reset of RSI, shares can move decisively to upside.
NYSE:HDLong
by desai0820
HD MACD Divergence play + they bought a BOAT!White is the preleminary key code I made - Most probable because Price action has bounced off the 20 EMA at the current price level. Blue is a more recent and aggressive key code. Orange is litterally the move right behind the current one. If you follow any of the videos I make I talk about my millionaire mentors setup for Divergence plays. You will notice about the time all the option chains end I tend to make a video about a divergence play. Because, when all else fails, finding thorough bred stocks like HD, GS, RRR, ACM that only move across the top of the Bollinger Bands on the Daily , when combined with a dip down to the bottom BB creates a Divergence almost every time. These Divergence plays are the strongest plays and have a high success rate. the trick to them is giving them enough time to pan out. 32 Days is the avg amount of candles it takes to finish a complete move from one BollingerBand to the next. That said HD is creating a huge divergence play. Setting up for perfect timing as they just had to adjust all their profit expectations all the way through 2022! Demand and backorders for product is so high for Home depot they had to buy not rent, not secure a larger portion of cargo containers on a boat.....But buy an entire Cargo Freight Liner to go and pick up all the product they need for their stores so that they dont have to continue capping the amount of product to each store to sell. Just so every store gets a chance to sell the product. The next 1.5 years for Home depot is going to be another major Growth Period for them. Between them and Lowes they command 30% of a sector for Home improvements which is nearly 800billion dollar industry to date. Which is said to become a $1 Trillion Dollar industry by 2022! Its all because americans love to spend money on fixing their houses. Covid made them stay in their homes and actually spend time looking at everything that needed or could be upgraded. With Free Time and Money in form of Stimulus Checks, guess where they spent both. Now that restrictions have been lifted and people are getting back to normal work conditions spending in these areas are said to increase and continue to grow as new living conditions and habits have been made. People will go out and reintegrate themselves with society but a even stronger devotion to home has been made. Thats all I have , happy trading and pls comment , like, subscribe as its the only way I know you actually enjoy charts like this. Thank you, by iCantw84it 06.16.2021
NYSE:HDLong
by iCantw84it
HD Divergence play with KeyCode Paths + they just bought a SHIPMy millionaire Mentor Richard taught me his divergence play set up and said if HD ever comes down start looking for Divergence.... So here we are. We have Divergence and Keycode is set to a strong play in the past where price action is contained inside of it at at least 95% or better. I made a key code of the price action then found an exact match to this move in the past.... one that matched at lease 95% or better. That way if the move is that close to the same shape we have now it must mean the sentiment of the market was the same at that time. Therefore, the outcome should be the same coming out of the move. I then used PTP which is Past Trend Prediction by tracing the trend it made after this move in the past and projecting it forward on to the current move. Then I took the same move on the Daily which is a different Time frame then the first..and found the same move with out a key and traced its path and projected it forward as well. Sometimes I use about 5 other Price Action tricks I have have developed over the last 10 months or chart out the Curve and what Stage it is in. The Curve is my own brain child and I compare that to Wycoff method. Taking all of these into account You have several different approaches to confirming direction and intent of the institutional buyers and where Retail resides during this move. If you would like to have more information or videos on Any of the ways I chart pls comment below. Like, follow, Subscribe...share. Thank you, iCantw84it 06.15.2021
NYSE:HDLong
by iCantw84it
2
Will Home Depot Decline Before Summer?I am writing this analysis a little after the triggering signal as I watched the stock move up. The red and green boxes still indicate targeted movements (as detailed in prior analysis and below), however, I have looked for potentially stronger entry points for put options. As I previously mention, the stock may continue to move up in contradiction of the reversing signal, but this continued movement is limited. This continued movement based on median statistics (the black dotted arrow) had the stock move upward for an additional 3 days to 327.21. The 3 days was spot on, and so was the peak. The actual peak (assuming the stock continues to move down from this point) was 328.83. Ideally, the stock is finally obeying the reversal signal from April 14, 2021. The peak occurred in line with historical movement by occurring in the smaller red box. Based on historical movement, the peak could have occurred anywhere in the larger red box. The next targets are in the green boxes. The pending bottom should occur within the larger green box as has been the case on the prior 373 occasions. Half of all movement has ended in the smaller green box. 84.45% of the 373 historical signals have seen the stock price drop at least 1.03% below the closing price on the signal bar. In this instance, the signal indicated SELL on April 14, 2021 with a closing price of 320.02. If this instance is successful, that means the stock should drop to at least 316.71 which is the top of the larger green box. Three-quarters of all successful signals have the stock drop 3.05% from the signal closing price. This percentage is the top of the smaller green box. Half of all successful signals have the stock drop 6.366% which is the end point of the black dotted arrow. One-quarter of all successful signals have the stock drop 11.189% from the signal closing price which is the bottom of the smaller green box. The maximum decline on record would lead to a drop to the bottom of the larger green box. These are the same concepts for the levels in the red boxes as well. The ends/vertical sides of the boxes are determined in a similar fashion. The trough of the drop can occur as soon as the next trading bar after signal close, while the max drop occurs within the limit of study at 35 trading bars after the signal. A 1% drop must occur over the next 35 trading bars (days) in order to be considered a success. Three-quarters of successful movement occur after at least 4 trading bars; half occur within 14 trading bars, and one-quarter require at least 26 trading bars. The black dotted arrow represents median historical movement. Medians are a good metric, but they are just one of many I use when forecasting future movement. As always, the stock could decline the very next bar after the signal without looking back (therefore the red boxes would not come into play) or the stock may never decline (and the green boxes may never come into play). All statistics and the full analysis are available for free as always at the site below.
NYSE:HDShort
by StockSignaler
1
HD - Testing Strategic Resistance Hello Traders ! First of all, this is not a professional analysis nor an advice of any kind. I’m only sharing my thoughts. This week, Home Depot is testing a strategic resistance level, represented by the yellow trendline, at around $314.90. This trendline hasn’t been broken since Sept ’18. If HD successfully closed above the trendline, then we will have to wait for the confirmation in the next week candle as it has to open and close above the trendline, then HD is bullish again. Otherwise, it might try to visit 38.2% Fibonacci retracement level at around $288, which happened to previously work as a resistance level in Aug and Oct of 2020, let’s see if it will act as a support as well. (If you find this beneficial, don’t forget to LIKE). Happy trading!
NYSE:HD
by MoeGH88