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HDI trade ideas

Home Depot: A Deeper Retest Needed?Home Depot has been ripping higher as Americans spend on their homes. But now the chart may be pointing to sideways movement. First, consider the large bearish engulfing day on January 3. It followed a similar candle on December 8, which may indicate sellers are active above $410. Next, the two peaks have created a downward-sloping channel. The bottom of the pattern roughly corresponds with the $375-379 area where HD gapped higher on November 16. Will it fill that gap? Third, the lower high could suggest an ABC correction is starting. That could also point toward a deeper retest. Finally, the macro tide may be turning away from HD as the Federal Reserve grows increasingly hawkish. TradeStation is a pioneer in the trading industry, providing access to stocks, options, futures and cryptocurrencies. See our Overview for more. Important Information TradingView is not affiliated with TradeStation Securities Inc. or its affiliates. TradeStation Securities, Inc., TradeStation Crypto, Inc., and TradeStation Technologies, Inc. are each wholly owned subsidiaries of TradeStation Group, Inc., all operating, and providing products and services, under the TradeStation brand and trademark. When applying for, or purchasing, accounts, subscriptions, products and services, it is important that you know which company you will be dealing with. Please click here for further important information explaining what this means. This content is for informational and educational purposes only. This is not a recommendation regarding any investment or investment strategy. Any opinions expressed herein are those of the author and do not represent the views or opinions of TradeStation or any of its affiliates. Investing involves risks. Past performance, whether actual or indicated by historical tests of strategies, is no guarantee of future performance or success. There is a possibility that you may sustain a loss equal to or greater than your entire investment regardless of which asset class you trade (equities, options, futures, or digital assets); therefore, you should not invest or risk money that you cannot afford to lose. Before trading any asset class, first read the relevant risk disclosure statements on the Important Documents page, found here: www.tradestation.com .
NYSE:HD
by TradeStation
2
Home Depot Pivoting. HDAnother five wave impulse is finished, divergences are present. We are bound to fall. We are not in the business of getting every prediction right, no one ever does and that is not the aim of the game. The Fibonacci targets are highlighted in purple with invalidation in red. Fibonacci goals, it is prudent to suggest, are nothing more than mere fractally evident and therefore statistically likely levels that the market will go to. Having said that, the market will always do what it wants and always has a mind of its own. Therefore, none of this is financial advice, so do your own research and rely only on your own analysis. Trading is a true one man sport. Good luck out there and stay safe!
NYSE:HDShort
by Rykin_Capital
Home Depot | Fundamental AnalysisThe pandemic forced many companies to send their employees to work remotely. Millions of employees who were used to appearing in their offices every day had to make significant adjustments to their work. Home Depot stock ended the Dec. 7 trading session at a record high of $416.18 per share. The home improvement dealer has been a jaw-dropper winner since the start of the pandemic as people diverted their spare cash to improve their homes. Since March last year, Home Depot stock is up 160%. Since the stock is still close to its all-time high, you might wonder if Home Depot is a good investment at the moment. The company posted another fantastic quarterly earnings (for Q3 ended Oct. 31), surpassing Wall Street consensus forecasts on both the top and bottom line. Revenue of $36.8 billion and diluted earnings per share of $3.92 were 9.8% and 23.3% higher than the previous year, respectively. Same-store sales were up 6.1% year over year. Considering the harsh comparison to last year`s Q3, this was a great report from Home Depot. For the third quarter in a row, sales from professional customers, which include contractors, plumbers, and electricians, outperformed the DIY segment. During the pandemic, consumers refrained from more complicated projects since they weren't comfortable letting outsiders into their homes, but that dynamic has since changed. Almost half of Home Depot's sales come from professionals, so it's great to see this cohort of customers successfully recovering. Although customer transactions were down 5.5% in Q3, the average ticket size was up 12.9%, due in part to inflation across some product categories. Home Depot's operating margin was 15.7% and its ROIC) was an excellent 43.9%. Operating margin and ROIC outperformed competitor Lowe's since Home Depot has a larger Pro business, with professional contractors who frequent the store and spend more, resulting in better financial performance. As per management, Q4 got off to a fantastic start. "Combined sales for the first two weeks of the fourth quarter are slightly higher than the entire third quarter," Chief Financial Officer Richard McPhail said during the third-quarter earnings call. One of the essential tendencies contributing to Home Depot's business growth is rising home prices. Due to the U.S. housing shortage, median prices in October rose 13 percent year over year to $378,700, marking the 15th consecutive month of double-digit growth. The popularity of remote work has made many Americans reassess their housing conditions, which has supported activity in the housing market as well. Growing prices are having a wealth effect on consumers, who are looking at remodeling projects as an investment in their homes. Using skyrocketing equity is one way to finance projects. According to CoreLogic, U.S. homeowners with mortgages added $3.2 trillion in home equity in the third quarter, a 31.1% increase over the previous year. And even if the Federal Reserve plans to raise interest rates at some point in 2022, they will still be at historically low levels. So this is hardly a potential obstacle to Home Depot's business. Nevertheless, if consumers shift their spending away from home improvement projects to other retail categories, demand for Home Depot could dilute. This would surely put pressure on the company's stock. However, based on last quarter's financial performance, the company's momentum could not be stronger at the moment. As of Dec. 15, Home Depot stock was trading at a price-to-earnings (P/E) ratio of 27, the second-highest in a decade. The P/E ratio in the S&P 500 is nearly 29, so Home Depot looks like an engaging stock to own based on that comparison alone. But the company's business is much better than the average company, which strengthens the bulls' argument for the stock at the moment. With consistent revenue and earnings growth throughout its long history, Home Depot has already evinced its investment merits. And with its enormous scale in the home goods industry, the company is a fundamental part of today's U.S. economy. Even near its all-time high, the company's stock deserves serious consideration as an investment for your portfolio.
NYSE:HDLong
by FOREXN1
2
$HD Analysis & Key Levels $HD Analysis & Key Levels Things might get a little dippy from these heights… Higher probability to the downside… Technicals will bring this down to earth in a fury I think… Lots of nice targets below… —————— I am not your financial advisor, but I will happily answer questions and analyze to the best of my ability but ultimately the risk is on you. Check out my ideas, but also do your own due diligence. I am not a bull. I am not a bear. I just see what I see in the charts and I don’t pay too much attention to the noise in the news. Very often you have to look at my charts from the perspective of where I’m looking to sell puts. But I also do open positions still once in a while. If you want me to analyze any stock or ETF just leave me a comment and I’ll do it if I can. Have fun, y’all!! (\_/) ( •_•) / >🚀
NYSE:HDShort
by SPYder_QQQueen_Trading
8