HD possible support areas NYSE:HD possible support area but the Fast STO long and short term are not over sold on the weekly
HOME34 trade ideas
HOME DEPOT Buy opportunity on the 1D MA200.Home Depot (HD) gave us last time (October 09 2023, see chart below) an excellent buy opportunity that quickly hit our 326.50 Target:
The Bullish momentum was so strong that it broke above the Triangle pattern and gave way to the emergence of a Channel Up. The recent 30 day correction since the March 21 High, can be technically seen as the new Bearish Leg of the Channel Up.
With the 1D MACD about to make a Bullish Cross, which has historically been an early buy signal for HD, we have the best buy opportunity at hand since October 27 2023, even though the downside can easily extend as low as 322.00 (-18.80% from the top).
This is good enough for us to buy and target initially the 1.236 Fibonacci extension at $415.00.
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Building a Position with HDHome Depot, like other equities, experienced a sell-off in recent weeks. However, it has found support at a key level. I'm establishing a position with this key level as my stop-loss, anticipating a week or two of recovery.
Home Depot: Almost There! 🏁We expect that the Home Depot stock will drop further until the current wave (B) concludes in our Target Zone (coordinates: $321.10 – $288.12). After the low is settled, we reckon with a bullish trend reversal, which is why our Zone presents an opportunity to take on long positions. It should be noted that it is also 29% likely for the low of wave alt.(B) to be already in place. In this case, our Zone would not be reached after all, and this alternative scenario will be confirmed if the resistance at $364.45 is exceeded prematurely.
In-Depth Technical Analysis of Home DepotHome Depot, Inc. (HD) exhibits a confluence of bearish signals across multiple technical facets. Our comprehensive analysis deciphers the intricacies of these technical indicators to project potential future movements.
Technical Indicators:
Ichimoku Cloud Analysis:
HD's price action breached below the Ichimoku Cloud, a bearish signal indicating the possible inception of a downtrend. The Conversion Line and Base Line trajectory are sloped downwards, with a widening gap suggestive of increasing bearish momentum. The Lagging Span is positioned below the price action and within the cloud, corroborating the bearish sentiment.
Fibonacci Retracement:
The rejection from the 0.236 Fibonacci level has set the bearish tone. A consistent descent has been observed, and the current price is on the verge of testing the 0.786 retracement level at $309.47. This level is crucial as it represents the last bastion for bulls to mount a defense, failing which could propel the price to explore depths around the $300 mark.
Moving Averages:
The price residing below key daily simple moving averages confirms the bearish dominance. Should the price fail to reclaim these averages, the path of least resistance remains to the downside.
Volume Profile:
The On Balance Volume (OBV) indicator's upward trend juxtaposes the price decline, hinting at a potential divergence. This usually warrants caution as it may precede a reversal. However, the recent peak in trading volume coinciding with a decisive bearish candle suggests a robust sell-off, potentially outweighing the OBV divergence.
RSI and MACD:
The RSI is teetering on the edge of oversold territory. The proximity to this threshold often precedes a retracement or consolidation phase. Meanwhile, the MACD lines are in a bearish crossover, with the histogram deepening in negative territory, underlining the current bearish drive.
Bollinger Bands:
HD's stock price has penetrated the lower Bollinger Band, reinforcing the oversold narrative from the RSI. A potential mean reversion could be anticipated, with the middle band around $360 acting as an interim resistance.
Chart Patterns and Price Action:
The formation of a sequence of bearish candles, characterized by increasing length and volume, is indicative of escalating selling pressure. The lack of significant wicks suggests little buying interest at these levels.
Advanced Speculative Projections:
Bearish Case:
Should the selling pressure continue unabated, a decisive close beneath the 0.786 Fibonacci level may quickly seek out the psychological round number support at $300. This level could serve as a congregation point for contrarian buyers, possibly creating a demand zone for a short-term bounce.
Bullish Reversal Case:
For a bullish reversal to gain credibility, a reclaiming of the Ichimoku Cloud would be imperative, followed by a close above the Conversion and Base Lines, which would serve as the initial resistance zone. Only a sustained move above this region would alter the current bearish narrative, potentially targeting the 0.382 Fibonacci retracement level near $373.84 as a medium-term objective.
Conclusion:
The synthesis of technical indicators and price action presents a rather bearish outlook for HD in the short to medium term, underscored by the recent breakdown from significant technical structures. Market participants should anchor their strategies around the aforementioned levels while exercising prudent risk management, given the inherent volatility of equity markets.
Note: This analysis is speculative and should be used as a supplement to a comprehensive investment strategy. Markets are influenced by a multitude of factors beyond technical readings, including macroeconomic developments and company-specific news.
HD Long Day Aggressive Counter Trend Trade 16Aggressive Counter Trend Trade 16
- short impulse
+ biggest untested volume T1
+ support level
+ biggest volume 2Sp+
+ test
+ below first bullish bar closed level entry
Calculated affordable virtual stop loss
1 to 2 R/R take profit
Hourly Context:
"- short impulse
+ biggest volume T1
+ biggest volume 2Sp-"
Daily Context:
"+ long impulse
+ T2 level
+ support level"
Monthly Context
"+ long impulse
+ SOS level
+ support level
+ 1/2 correction"
HD Stock Outlook: Possible upward momentum toward 410-420Home Depot Inc (HD) stock is gaining momentum and could reach between 410 and 420 in the second quarter of 2024. However, there might be a short-term dip, with potential buying opportunities in the range of 370 to 375.
Double-Top or Just a Pause? $HDNYSE:HD
I wonder if this ends up being a double-top for Home Depot?
I would watch lumber prices, it tracked lumber quite closely last time, if lumber fades soon it could signal macro-economic weakness in the economy, which could lead to lower bond yields and lower stock prices together. Watch closely my friends.
Home Depot Inc (HD.NYSE) Bullish PennantHome Depot Inc (HD.NYSE) Bullish Pennant
Buy Entry Price:$379.41
Target Price:$391.33
Stop Loss Price:$370.57
Home Depot - Bullish TrendHome Depot stock is in an upward trend, making Higher Highs and Higher Lows on 4H timeframe
Home Depot Will Open Four New Distribution CentersHome Depot ( NYSE:HD ) said Thursday it will open four new distribution centers as it drives more sales from remodelers, contractors and other home professionals.
The new distribution centers are expected to open in the first half of the year in Detroit, Los Angeles, San Antonio and Toronto. They make room for the bulky size, wider variety and larger orders of products that pros need, such as lumber, shingles and insulation, which then can be delivered directly to a job site.
Each facility averages approximately 500,000 square feet — about five times the size of the average Home Depot store.
Home Depot ( NYSE:HD ) has opened 14 similar distribution hubs to serve pros in major metropolitan areas, starting with the first that it opened in Dallas in 2020.
Home Depot ( NYSE:HD ) draws roughly half of its total sales from pros and the other half from do-it-yourself customers, such as homeowners tackling a painting project.
Home Depot’s sales declined by 3% in the last fiscal year as customers took on fewer projects after the pandemic. The company said it expects total sales to grow about 1% this fiscal year, including the lift from an additional week. It anticipates comparable sales, which take out the impact of store openings and closures, to fall about 1%, not including the extra week.
Beating those lackluster expectations could depend on pro customers, who are usually steadier and bigger spenders compared with DIY customers, said Chip Devine, Home Depot’s senior vice president of outside sales, who oversees the company’s pro business. They also need more specialized salespeople and services, which means they’re less likely to jump between retailers or switch to a competitor.
Home Depot ( NYSE:HD ) have made fewer discretionary purchases and tackled smaller home projects in recent quarters. Big-ticket transactions, or those with a price tag of more than $1,000, fell by nearly 7% in the fourth quarter compared with the year-ago period, the company said on its earnings call last month.
Home Depot ( NYSE:HD ) is poised to change other aspects of its business to support pros who handle complex and pricey projects. It is piloting a program that offers trade credit to pros, which means that Home Depot underwrites a large order and does not charge the pro customer until it is delivered — a standard that’s common in the industry, Devine said.
Home Depot ( NYSE:HD ) also expanded its dedicated sales force for pros. And it has added digital and personalized features for pros, such as tools that help manage complicated orders and a loyalty program that offers perks.
HD: a deeper correction waiting to unfold?A price action below 371.00 supports a bearish trend direction.
Increase short exposure for a break below 367.00.
The target prices are set at 357.00 and 351.00.
The stop-loss is set at 380.00.
Breaking down the 23.6% Fibonacci retracement at 361.00 might trigger such downside potential.
HD ClearHD has been on a run recently but I don't think it's close to finished. I think long term this is trending to 470 to complete the Harmonic. Long!
Not financial advice, good luck to all :)
$HD 5 month uptrend Take note of NYSE:HD 5 Month uptrend. Based on Mark #Minervini criteria and economic conditions where interest rates are high. Home upgrades tend to remodel or renovate their homes. Study $ANF. LONG!
Home Depot Faces Uphill Battle Amidst Weak 2024 ForecastHome Depot ( NYSE:HD ) finds itself navigating rough waters. The retail giant recently delivered a sobering forecast for 2024, projecting results below analysts' expectations. As demand for home remodeling fails to pick up steam, Home Depot ( NYSE:HD ) braces for a year of sluggish growth and intensified pressure on its bottom line.
Unveiling the Forecast:
Home Depot's ( NYSE:HD ) announcement sent ripples through the financial markets, with its shares plummeting over 2% in premarket trading. The company's cautious outlook stems from lackluster demand, particularly in discretionary categories like flooring, kitchen, and furniture. Despite resilience in key segments such as plumbing and hardware, overall foot traffic witnessed a decline in the fourth quarter, signaling a broader trend of subdued consumer sentiment.
Market Expectations vs. Reality:
Analysts had pinned hopes on Home Depot's ( NYSE:HD ) swift return to growth, but the company's guidance fell short of those expectations. With comparable sales projected to decline approximately 1% for 2024, the market grapples with the reality of a prolonged period of stagnation. Transactions at the retail giant dipped for the eleventh consecutive quarter, underscoring the depth of the challenges it faces in reviving momentum.
Economic Headwinds and Consumer Behavior:
The macroeconomic backdrop, characterized by elevated food prices and borrowing costs, casts a shadow over consumer spending patterns. Homeowners, grappling with inflationary pressures, are prioritizing repair and maintenance over large-scale renovations. This shift in consumer behavior has left Home Depot vulnerable, as it grapples with tepid demand and narrowing profit margins.
Analyst Insights and Industry Outlook:
Jonathan Reid, a director at Fitch Ratings specializing in retail and consumer goods, notes the disparity between market expectations and Home Depot's guidance. While the home improvement industry anticipates a recovery in the latter half of the year, analysts remain cautious about the company's near-term prospects. With 2024 per-share earnings forecasted to grow a modest 1%, compared to analysts' projections of 3.62%, Home Depot faces mounting pressure to adapt to evolving market dynamics.
Navigating the Challenges:
Despite the grim forecast, Home Depot ( NYSE:HD ) isn't without its silver linings. Tighter cost controls and easing supply chain expenses helped the company surpass earnings estimates for the fourth quarter. However, these mitigating factors may not be sufficient to offset the broader challenges posed by subdued consumer demand and economic uncertainty.
Conclusion:
As Home Depot ( NYSE:HD ) charts its course through hard times, the road ahead remains fraught with challenges. The company's weak 2024 forecast serves as a stark reminder of the volatile nature of retail markets and the imperative for adaptability in the face of adversity. How Home Depot ( NYSE:HD ) responds to these challenges will undoubtedly shape its trajectory in the months to come, as it seeks to navigate the complexities of a rapidly evolving economic landscape.
HD tests breakdownHD is testing a breakdown of the channel here, we have had a washout to the upside previously. I would look for a weekly candle body extending past it for bearishness.
I think the trend remains strong personally.
Home Depot, Inc. (symbol ‘HD’) share price had a steady growthHome Depot, Inc. (symbol ‘HD’) share price had a spectacular steady growth in the latest quarter managing to rise by around 25%. The company’s earnings report for the fiscal quarter ending January 2024 is expected to be released on Tuesday 20th of February, before market open. The consensus EPS is $2.73 against $3.30 in the same quarter last year.
‘The company recovered from the losses incurred in the previous quarter and is not showing any signs of slowing down at least for now. The price-to-earnings ratio (P/E ratio) increased from 18.14 on 31/10/2023 to 23.44 today indicating that the shareholders are anticipating higher economic growth for the company. In addition, the current ratio of the company is at 130% meaning that it can withstand any short-term turmoil with the current assets at hand making it an attractive addition to investors' portfolio.’ said Antreas Themistokleous, trading specialist at Exness.
Technical analysis shows that the price is currently testing the resistance of the upper band of the Bollinger bands after finding sufficient support on the round number of $350 in recent sessions. Although the 50-day moving average is trading well above the 100-day moving average validating the overall bullish momentum in the market, the Stochastic Oscillator is in the extreme overbought area. This might be seen as slowing down in the bullish rally but for now, at least it might not be considered a strong sign of a trend reversal. Some minor correction might be seen in the short term but the long-term outlook seems to be bullish at least for the time being.
Long-term position in Home Depot Inc $HDThis week, I entered a long-term position in Home Depot Inc NYSE:HD
Timeframe: M
SL: ~$302
Target: ~$550
HD channelHD is one of my current core holdings that I averaged into during the crash last year. I have always liked the company fundamentally, and even have had success trading options on the stock as well. HD is above the golden fib (strong momentum) and has risen despite market turmoil. Even though tech is the favored sector right now HD has continued to rise. There simply is a shortage of housing in America, Warren Buffett is bullish on home builds, HD indirectly benefits from this since its the main source of products for new homes. If HD stays in the channel I believe we see 400$ in Q2. I also believe people will slowly flock to value this year as they realize that the Mag 7 are clearly overvalued.
HD: Finally Patterning Out Post-PandemicNYSE:HD benefited greatly from the pandemic lockdown and the numerous stimulus checks that over-stimulated all nations' economies.
The stock has now moved above its trading range and has sustained, aka held onto, those gains.
This patterns out the excessive revenues and earnings that were inevitably unsustainable for all of the companies that benefited from the brief surge of revenues due to the "over-stimulus checks."
This is the Weekly Chart to show that the Year over Year comparatives that harmed HD for a couple of years is now patterned out.
HD - Waiting for Retest of SupportWeekly timeframe shows that this stock is likely to pullback to my level of support highlighted on the chart.
I need that level to be tested before deciding on what to do with this stock. If we reach that level, I'll assess market conditions and momentum to determine if it's a low risk entry. There might be a chance of further declines as shown with my second arrow.
Home Depot: Technical Outlook Breaking through the duplicated trend line indicating very bullish momentum. Likely to retreat back to the rising channel. Currently in a flag pattern on a 1h chart. Areas plotted to look out for, combined with daily and weekly moving averages to be used as S/R confluences. Analyst target at 356 USD.
Home Depot a Long Term Buy and HoldHome Depot began in 1982 at $0.03 per share. Imagine buying $1,000 of NYSE:HD in 1982, which is now 334,000 shares, which is worth $118M and pays you $2.8M per year in dividends.
Home Depot opened up the first store in 1979 and IPOed in 1981 at $12 a share. It then with all the splits averaged to $0.03 a share.
This stock is up 1,000,000% since IPO.
Wild ride that is far from over. If you look at the trend, it is still bullish and setting up to make new highs soon.
In the last 12 months, operating cash flow was $21.03 billion and capital expenditures -$3.27 billion, giving a free cash flow of $17.76 billion for $HD. This stock pays an annual dividend of $8.36, which amounts to a dividend yield of 2.36%. The stock price has increased by +8.06% in the last 52 weeks. The beta is 0.94, so The Home Depot's price volatility has been similar to the market average.
The Home Depot has a market cap or net worth of $352.32 billion. The enterprise value is $399.52 billion.
Return on equity (ROE) is 1,339.60% and return on invested capital (ROIC) is 33.57%.
The stock's EV/EBITDA ratio is 15.68, with an EV/FCF ratio of 22.49.
This stock is a company where employee turn over is low and customers keep returning. They know their business and keep growing. The trend is still rising from the left side of the chart to the right. Invest well and build your forever income.
