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HD trade ideas

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
Follow-up analysis $HD positionNYSE:HD One thing I do different about this specific option strategy is the trade analysis that I do for trade management. This would determine if I exit early at half of the debit or see it to expiration and risk full loss. Initial trade set up triggered entry 04/21 Debit Put Spread $300/325 14 May 21 expiry. Price needs to be below $325 at expiration for this trade. Since Price is showing weakness and overextension. Holding this spread 'til expiration.
NYSE:HDShort
by EllaineEscueta
HD Long William Alligator : the stock is currently in a bullish position because the candlesticks are above the Teeth, Lips and Jaw and the lines are “eating with an open mouth” this indicates that the stock is in a strong uptrend. RSI : the line is under 70, so the stock is not overbought. Candlestick patterns : there is a bearish engulfing which is a bearish confirmation. Overall : it can be interesting to take a buy position on this stock because the indicators indicate that the price is increasing. Entry price is higher than the current price for assurance and stop loss is set at -5%.
NYSE:HDLong
by lena_vf
Will Home Depot Decline Before Summer?I am writing this analysis a little after the triggering signal as I watched the stock move up. The red and green boxes still indicate targeted movements (as detailed in prior analysis and below), however, I have looked for potentially stronger entry points for put options. As I previously mention, the stock may continue to move up in contradiction of the reversing signal, but this continued movement is limited. This continued movement based on median statistics (the black dotted arrow) had the stock move upward for an additional 3 days to 327.21. The 3 days was spot on, and so was the peak. The actual peak (assuming the stock continues to move down from this point) was 328.83. Ideally, the stock is finally obeying the reversal signal from April 14, 2021. The peak occurred in line with historical movement by occurring in the smaller red box. Based on historical movement, the peak could have occurred anywhere in the larger red box. The next targets are in the green boxes. The pending bottom should occur within the larger green box as has been the case on the prior 373 occasions. Half of all movement has ended in the smaller green box. 84.45% of the 373 historical signals have seen the stock price drop at least 1.03% below the closing price on the signal bar. In this instance, the signal indicated SELL on April 14, 2021 with a closing price of 320.02. If this instance is successful, that means the stock should drop to at least 316.71 which is the top of the larger green box. Three-quarters of all successful signals have the stock drop 3.05% from the signal closing price. This percentage is the top of the smaller green box. Half of all successful signals have the stock drop 6.366% which is the end point of the black dotted arrow. One-quarter of all successful signals have the stock drop 11.189% from the signal closing price which is the bottom of the smaller green box. The maximum decline on record would lead to a drop to the bottom of the larger green box. These are the same concepts for the levels in the red boxes as well. The ends/vertical sides of the boxes are determined in a similar fashion. The trough of the drop can occur as soon as the next trading bar after signal close, while the max drop occurs within the limit of study at 35 trading bars after the signal. A 1% drop must occur over the next 35 trading bars (days) in order to be considered a success. Three-quarters of successful movement occur after at least 4 trading bars; half occur within 14 trading bars, and one-quarter require at least 26 trading bars. The black dotted arrow represents median historical movement. Medians are a good metric, but they are just one of many I use when forecasting future movement. As always, the stock could decline the very next bar after the signal without looking back (therefore the red boxes would not come into play) or the stock may never decline (and the green boxes may never come into play). All statistics and the full analysis are available for free as always at the site below.
NYSE:HDShort
by StockSignaler
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