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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
NYSE:HDShort
by The_Unwind
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.
NYSE:HD
by MarthaStokesCMT-TechniTrader
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
NYSE:HDShort
by The_Unwind
2
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.
NYSE:HD
by ericsolan
1