HOME34 trade ideas
$HD on strong supportHD is now at very strong support. I'll be watching it for a reversal for calls or a break of support for puts.
HD - More saving, more doing!Welcome back to another dow30 stock analysis, this time featuring home depot! NYSE:HD
Home depot counts to the companies who made massive profits because of the corona crisis.
The company more than doubled it's stock value since the march bottom and will very likely grow further in the next years.
Home Depot is currently trading sideways and didn't made a impressive move upwards or downwards in the last 100 days.
A solid triangle formed in this time, because of this i expect that we are currently in a wave 4.
Because Home Depot left this triangle the way is now free for a final correction in the read wave C.
From there on i will announce an entry for the upcoming months.
Primary scenario:
In the next days we will correct to atleast 250$-230$ and will establish a bottom.
From there we will start the wave 5, which will bring us to prices above 320$ or even more.
Alternative scenario:
My alternative scenario will get triggered if we break the previous the upper triangle line.
The bulls will Home Depot directly to prices above 320$ and we won't see another correcting in the upcoming days.
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HOUSING BUBBLE TO END NOW !!!HOME DEPOT AND HOUSING HAVE BEEN A NEAR PERFECT MATCH AS TO THE OVERALL ECONOMY . THE CHART IS ALSO OUTSIDE OF THE BOLLINGER BANDS A WARNING TROUBLE JUST AHEAD
$HD Bearish Swing Trade PlanGreen Line - Entry Target
Red Line - Exit Target
Pink Line - Stop-Loss
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$ HOME DEPOT - Price is consolidating after a strong move up from March lows.
- It will be important to monitor any break of the range for a possible pullback or continuation of the move.
- Long entries around $265 are favoured, below the 200ma will be viewed as bearish.
-- MANAGE YOUR RISK - -
Disclaimer: All ideas are my opinion and should not be taken as financial advice.
NYSE:HD
HD bearish scenario:🌟HD bearish scenario:
We have technical figure Triangle in US company The Home Depot Inc. (HD) at daily chart. The Home Depot, Inc., commonly known as Home Depot, is the largest home improvement retailer in the United States supplying tools, construction products, and services. The Triangle has broken through the support line at 18/11/2020, if the price holds below this level we can have possible bearish price movement with forecast for the next 4 days towards 263.44.00 USD. Our stop loss order should be placed at 281.29 USD if we decide to enter this position.
💚fundamentals-
The retail sales report released by the Commerce Department showed spending decelerating as the holiday shopping season approaches amid a lack of forthcoming fiscal relief from Washington.
$HD with a bullish outlook projectedAfter a Negative over reaction following $HD earning release, the PEAD projected a bullish outlook placing it in Drift C
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Rectangle Earnings 11-17 BMORectangles are a continuation pattern as a rule but can break up or down like a symmetrical triangle
Earnings in am
HD has pierced bottom trendline of a RW at 266ish but did not dwell there long
Mid rectangle is 277.88 which would be a possible stop whether this breaks up or down
Good luck!
Consolidating for next leg upHD was on a great run and looks to be building a base for the next leg up. Can play from 278.49 to the top of the box or at a break of 292.51. Short below a break of 261.13.
