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HDI trade ideas

HD looking to continue moving to new highs?I last spoke about this around mid October as it was breaking out of from $342.15. Since then it rallied higher and then consolidated for 3 weeks. This consolidation also created a base on base pattern. Now it's breaking out of the consolidation as earnings approach. The best part about this is that it was consolidating as the general market was in a small correction. This shows that there is institutional demand for HD and earnings may give another leg higher. Trade Idea: * Now's the perfect time to enter as the price is right above the broken resistance. * Very favorable risk/reward ratio. * If you're looking for a slight discount you can look for buying opportunities near the $366.48 area as that is the base of the tight range. * Looking at the weekly chart this may continue to consolidate but with earnings coming up I can see this moving higher from here.
NYSE:HDLong
by HaseebKhan_90
2
HD earnings preview We're riding the wedge top here going into earnings which in my experience is always when they dump either before market hours or sell off at the open. Do you think inflation will Mess with Homedepot guidance? I think it will but let's see what happens. Volume has been decreasing on the weekly here which shows that less people are willing to buy as the wedge narrows. On the daily its showing a Bullish flag, or a possible double top . The bollinger bands have tightened too on the daily which let's me know which ever way it goes it's goingto go big in that direction. I'm bearish here because of the weekly picture but the daily picture makes me think they might pop it up and sell off at the open. Adobe showed this same picture going into its earnings (See link). after their earnings they sold of 20% in 2weeks
NYSE:HDShort
by ContraryTrader
1
Cup and Handle Ascending TrianglePrice is above the bands set on 80 SMA. Very bullish and shows a ton of momentum. Closing in on Targets 1. I get a bit nervous when price is over the top band set on 80 as price usually returns the bands. When price is over the top band, it is almost always overbought. Price can remain outside the top band and in overbought condition for a while in some cases with extreme momentum or a security may just ride the top band while slightly over the top band. Targets 2 are long term and may or may not be met. My focus is on targets 1 as I do own this. No recommendation. Trying to reach for the stars here, but keeping my feet on the ground. You can measure the wide end of a triangle at the side end and project it from the bottom trendline of a triangle to get a guesstimate of where price may go. Any triangle can break up or down. This one broke to the upside. RSI is set on 80 verses 70.
NYSE:HD
by lauralea
HD breaking out!* Exceptional earnings year-over-year * Very strong up trend * Breaking out of a 5 month consolidation with slightly more volume than average * Pays out dividends with a Payout Ratio of 44.10% which means the company has more room for growth and potentially increase dividends as well. Trade Idea: * You can enter now as indicated if you don't mind a little volatility * Given that it only broke out with slightly higher than average volume, this may visit the 339 area before heading higher.
NYSE:HDLong
by HaseebKhan_90