HOME34 trade ideas
$HD reversalIf it can hold range looking for reversal after dump. Currently hanging on to 50MA and the .5 retracement - bottom of support range lines up with the 618 retracement level as well.
Home Depot (HD) LT Upside Targets Home depot long-term targets are the black rays. Red rays below the are old support levels that HD has either already tested or that will not be retested. There is no timing analysis here, so these are only upside targets with no regard to timing or additional downside pressure. Red lines are support lines, and the large red horizontal line at the bottom of the chart at $207 will not be broken.
NYSE:HD
Home Depot $268 target on earnings beat
Earnings per share $2.28 v consensus $2.10
Guidance for full year 2020 EPS $10.45 v consensus $10.08
HD RESISTANCE AND SUPPORT.SUPPORT AND RESISTANCE. WE DO HAVE RSI DIVERGENCE BUT THE RSI TREND NOT BROKEN YET. LOOK TO BUY IN THE RSI OVERSOLD AREA WITH DIVERGENCE OR BREAK OF RSI DOWNTREND. WE KEEP MOVING HIGHER LOOK TO SELL IN THE RESISTANCE AREAS WITH RSI SIGNAL. JUST MY GUESS.
LONG HD on touch of support at 164Levels of support/resistance typically produce a pop or bounce on the first touch.
There is an untested level of support in the valley around $164
SETUP: This is not a prediction price will get to 164. However, if it does, enter long.
I call this conditional trading.
ENTRY: $163.5
Long position
TARGET: $170 (or anything close)
This is an area below some lows that would provide resistance
STOP: $160
Below the low candle in the valley in which we took our long
HD to Test Prior All-Time HighsHD has been working on a short-term bottom since December 2019. It is now poised to test the previous all time high level again.
HD is tired at this pointShort IMO and here are few reasond: 3 times failed to break 239.50ish, RSI begin downtrend, volume decreases, China virus , Market is on the verge of cracking down, ER are soon and even if reports are good HD will go lower in order to break 239.50 on earning day. but I doubt that.
Bearish Engulfing pattern on Home DepotBearish engulfing pattern confirming a resistance level formed on HD today.
HD BounceHD on the 4-hour chart has reached its highs while being overextended beyond the bollinger band. It has also pulled away from its moving averages. This can cause a bounce off the highs which are acting as resistance trending back to the moving averages. I expect this to be a quick trade, with a 1-2 day turnaround.
The Home Depot, Inc. (HD)The Home Depot, Inc. (HD) is approaching a potential breakout point at 236.5. Target area 240-244.
Bearish Engulfing in HD on FridayBearish Engulfing in HD on Friday.
Stock tested upper resistance level of massive window but failed 2 times. This second time a bearish engulfing was formed. Short idea, with tight stop loss above pattern high @ 235,71 USD.
Target is set to last significant low of the former rally, which is at around 217,53 USD.
LET'S PUSH TO $239 RECORD HIGHHD had been trying to break 1st resistance $236 and got rejected. I'd be confident if it breaks, it'll move up to the 2nd resistance $239 by eow.
My stop loss is set at $232 if it goes south.
Bullish If it breaks the rejection points at $232.30, we are looking at TG1 $235ish area and if it continues TG2 $237.
Short $HD into earningsWe got a live block trade today at about 9:34 AM EST. I am thinking of a short here as it looks like a buy capitulation is underway with the rest of the stock market after the #CHINA and #USMCA vote.
HD Long on SMA 200 bouncePros:
- FI and MACD both trace higher low even when the price is at lower low.
- RSI traced double bottom and RSI starting to slope up
- MACD histogram in weekly trend has alredy ticked down quite abit (lower potential downside)
- High potential profit if prices break above SMA200. Can realistically expect 4R-5R profits
Cons:
- Volume on red days still relatively high. Ideally would prefer a decline in red days volume as prices goes down for Long trade. I am betting on the SMA 200 holding based on FI, MACD and RSI
May the trend ContinueHome Depot shows a beautiful pullback to 200 moving average and also Fib 0.382, looks like it will continue the trend towards the golden ratio of 257$ Golden ratio 1.618
