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HOME34 trade ideas

Home Depot - an intriguing weekly chart - 328.50 resistanceThis chart follows a swing put trade idea I posted in early July (linked). I bought and sold those puts when price dropped from 322 to 318. Now I want to share this channel I found on the weekly chart, and I am wondering if the Feb. - Mar. 2020 price action will occur again? I like HD for day trades and short term swings. I prefer to keep a smaller position size so even if price moves against my option I have time and comfort to hold a loss . On a candle chart you can draw a horizontal line at 328.50 and see this area, reached on 21 July, is resistance. Below the two channel lines is a lower support line that provides a downside target. Remember this is a weekly chart so look for trade entry signals like candle setups and RSI on daily/hourly timeframes.
NYSE:HD
by OptionsRising
$HD - Inverse head & shoulder - Target $340Playing out inverse head & shoulder. Break above the neckline bullish. Break below the neck line bearish. Neckline - $321 - $322 Entry - $325 Stop loss - $313 Target - $340 ——————————————————— How to read my charts? - Matching color trend lines shows the pattern. Sometimes a chart can have multiple patterns. Each pattern will have matching color trend lines. - The yellow horizontal lines shows support and resistance areas. - Fib lines also shows support and resistance areas. - The dotted white lines shows price projection for breakout or breakdown target. Disclaimer: Do your own DD. Not an investment advice.
NYSE:HD
by PaperBozz
HD - swing puts againThis chart follows up on my earlier post (linked). I bought swing puts and while price pushed over 322 I was able to hold my puts due to time, and small position size. I sold them for profit on 8 Jul when price was around 318. Here I see another opportunity for swing puts, based on RSI. On the daily chart, left, RSI dipped below 33.33 and then bounced up, but has not moved over 66.66 even with the bullish candle on 7 Jul. In fact there was a bearish open on the 8th. These past two days show price stalling, possibly reversing back to 310, and the gap near 304. On the 30m chart, last week there were two candles that kept RSI below 30. Today's big opening candle was bullish but could not get follow through and RSI is also under 66.66. I see price heading back to 321 and then then gap fill near 318.80.
NYSE:HDShort
by OptionsRising
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
House fixing and furnishing is done - HD swing putsHomes were renovated, appliances were upgraded, and new homes were furnished. This does not happen annually. I am looking for HD and other related stocks to cool off. This 321 area is a good place to enter swing puts. The 14-day RSI shows a dip below 33.33 (yellow circle), which means I am looking for this move up to stall soon (RSI pink circle) and turn down. Stochastic is also elevated and I am looking for it to also turn down. If price wants to go higher, then these indicators could stay elevated, but I will stop out with a small loss.
NYSE:HDShort
by OptionsRising
7
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
Home Depot Undercuts and Holds Recent LowHousing stocks like Home Depot pulled back hard in May as the real estate market slowed. However, the bears may be throwing in the towel. The main pattern of interest on this chart is support materializing around $310. This was near the low on May 19, the same session that HD bounced at its 50-day simple moving average (SMA). It’s also near a price gap on April 5, immediately after the long Easter weekend. While this price area isn’t very obvious, stabilization here could be bullish. After all, HD just broke support at its 50-day SMA. That should be bearish, but where are the sellers ? Perhaps there are none. Next, housing stocks were overbought a month ago and had a sharp pullback. (HD’s 7.1 percent crash on May 11-12 was its worst two-day drop in over a year.) But now volatility is ebbing. Finally, stochastics have been in oversold territory. The overall macro environment remains positive for housing. Interest rates have calmed and the economy continues to improve. Numbers like starts and sales were very weak in April, but the underlying supply/demand balance remains favorable. That may draw more buyers to HD in coming weeks if it remains above the $310 area. TradeStation is a pioneer in the trading industry, providing access to stocks, options, futures and cryptocurrencies. See our Overview ​for more.
NYSE:HD
by TradeStation