HD Elliot BounceHD increase in sales, oversold and is reaching its 5th elliot wave bounce. Projecting 22% increase in next month.
HD trade ideas
Inverse H&S or....Black Friday is days away. The rotation out of the tech sector may find a home at HD. It showed relative strength on a down day and has been range bound for weeks. It is prime for a break out. However, the direction of the breakout will be up to the finish this week. I will look to exit my long calls if HD closes below $1170.60.
Home Depot On The Edge..US Consumer Trend Rolling OverI use Home Depot's stock. HD along with Walmart WMT,
as a proxy to the health of the US consumer economy, and stock market.
The idea here is that these stocks tend to lead the economy in either direction,
representing the actual trend of what the purchasing power of consumers will be
either up or down, 6=9 months out in both discretionary HD or non-discretionary spending. WMT
As the chart in Home Depot shows
there was a very bearish false breakout above 200 in the stock,
prior to the stock market peak in early September
followed by a complete straight down rollover in the stock
on the back of better than expected earnings this month.
My interpretation of the chart
shows that if HD should violate pattern baseline support around 168,
then Home Depot will become yet another a busted stock,
with downside projections to the 125-135 area.
If that were to occur,
it would certainly add further supporting conclusive bearish evidence,
that the US economy, and its stock market are in the process of "rolling over" to the downside
.....a very bearish interpretation indeed.
THE_UNWIND 11/18/19
NEW YORK
Home Depot en su C de (IV)Home Depot realizando su onda (IV).
Este es un desglose lo que sucede, aunque tengo mis dudas.
HD: Earnings Stock of the DayAlways a late reporting company, HD reported today before the market opened. HFTs were ready to gap the stock in the direction the algos perceived earnings. The chart patterns were setting up for a negative reaction. The stock is in the lower area of its trading range that has similarities to the S&P500 index chart's trading range pattern. Flow of Funds indicators show heavier than normal outflow of money from this stock. That means selling is rotation or distribution by Dark Pools.
Home Depot Look At How the Market is Rewarding Good NewsHome Depot, a very mportant US retailer,
who many use to judge it's performance,
as a potential guide to the overall strength of the consumer economy,
came out with much better than expected earnings, and guidance today , 11/13/18
Yet take a look at Home Depot's stock price chart.
I've included the institutional 4 hour chart for observation.
HD topped right after the important end of summer Labor Day holiday in the US
on 9/12/18 at 215.43 a share,.. over two month's ago !
Now some $40 less in value per share, Home Depot shareholders today have rewarded
the quarters better than expected number s and guidance by FALLING over 1 % as I write.
The point here,
is that good news is already BAKED into the stock of Home Depot,
and like so many more company stocks right now,
that have simply "Rolled Over"on the chart.
Large money institutional traders ,
have long since exited Home Depot at prior elevated valuations,
leaving only the 'buy the dip" retail clients
and late to the party investors, to pick up the crumbs.
THE_UNWIND
11/13/18 10:15 AM
NEW YORK
HD - enter postion For people that always ask how do you know where to get in. This is a good example. You want to wait till this gets over this last pivot lower (trapping shorts) and above the 200MA. Once and only once it gets above that you can take the trade to the 100MA. That will be a good place for it to rest a day or two and either break higher or use the 100MA to show resistance. So always look what's above you and the last pivot of weakness.
Would love to see it cross the 50 day MABouncing off the bottom and ready for when the market confirms uptrend.
$HD could see more bounce or test lowerThis one looks like it wants $64 but could bounce higher before. Keep earnings in mind.
Go long HD on test of 164.75I'm not predicting HD gets to the untested support level of 164.75, but upon the FIRST touch of 164.75, enter a long position.
Untested support levels create a pop up to the nearest level of consolidation.
Target: anything close to the consolidation around 172
Stop: Right under the area of wicks under your entry, so around 162ish
Go long on HD on first touch of 180Home Depot has an untested support level at 180 back from April 2018.
Setup:
If (and only if) HD gets down to 180, enter a long position on first touch of the 180 support level.
Stop:
Anywhere below 180 is fine, just don't go too tight. Maybe 178ish.
Target:
First target will be around 190 for an exit or at least profit-taking, which is the first area of consolidation and untested resistance levels.
A riskier target will be up in the 203 range where there's more congestion and untested levels.
HD should keep its bullish momentumHD shares broke through 52 week highs on large volumes. This should propel the shares higher.
Law of gravity - things eventually need to come down..Home Depot reached an all time high last night after months and months of climbing.
This was a beautiful sign for traders to take short positions and bring the stock back to correction.
Today at its opening, it dropped 2%.
Entry: $212.3
Exit: $209
Return: 1.5%
