HDI trade ideas
$HD LongLEVELS
ENTRY: $270.50
STOP: < 262.00
TARGET $328.50, 377.00
REWARD: +21.4%, 39.4%
RISK: -3.5%
POSITION: Full Size
Home Depot - HD - Short StrangleHome Depot - HD - Short Strangle Options Strategy
What do you think? I personally think it's going to channel for a while so I put a strangle on.
As always, please do your own DD.
RectangleRectangle support line penetrated but HD is back inside..
A bearish narrowing Rising wedge has possibly caused a deep pull back.
Lowes is still inside the rising wedge and has not broken the bottom trendline..yet. HD has broken the bottom trendline so the RW pattern is valid.
Rising wedges are most often bearish, although price can break up and out of a RW. CRM did for quite a while. The break to the upside is often not a healthy one though.
A Rectangle is a continuation pattern that forms as a trading range during a pause in the trend. The pattern is easily identifiable by two comparable highs and two comparable lows. The highs and lows can be connected to form two parallel lines that make up the top and bottom of a rectangle. Rectangles are sometimes referred to as trading ranges, consolidation zones or congestion areas. It can also be called a horizontal trading channel. HD is in a long term uptrend and has dropped to 258.73 on it's brief dip out of the channel. NV is high
Price can form patterns inside the rectangle. It almost looks like an ABC bullish pattern is trying to form. I am watching.
HD may continue to trade inside this pattern, but often MR/mid rectangle is used as a stop if it breaks to the upside or to the downside. Price is under MR today
HD Long OpportunityWe have nice flag pattern here and also doji + confirmation candle on 0.618 fibonacci retracement. From a wave theory you can see possible AB=CD formation. We are also at support level,which seems to me already rejected.
HD Trade Idea (updated)Being a little stubborn around the 265. WIth the overall market sentiment, vaccine news, and sector rotation.
I'm holding spreads at the moment as they arent affected by theta.
SL is under 263.50
Entry for calls over 265.80 and 270
$HD Swing Trade Opportunity One the one hour you can see 262-164 is a strong support , its good to see HD consolidating for this level, a breakout of 266 would start a strong uptrend, this a good opportunity, might be looking at some Jan 21 Calls .
What's your Take ?
Thank you.
HD Long Short Term EntryLooking for a bounce back to the upside on HD this week or a drop to the 200 MA. In my thinking, there are two entry points here depending on price action. Reversal today or this week and buy around $265 with reducing or selling position at $287. Stop-loss around $260.75. If the drop continues then looking at a slower accumulation of a short-term position between $255 and $248 to be more cautious on entry point and average in, this would be in the 200 MA range and to me seems like a bit of a long shot. Both entries would reduce around $287 on the upside.
I also think either of these buy points would be a good place for adding to a long term position.
A long entry for me would be adding to an existing long-term long position with the intention of reducing back to similar levels of holdings.
Bouncing money makerThis is a very nice bouncing money machine and it is a buy right now.
$HD is also a pretty safe stock because of it's growing dividend!
HD long swing opportunityBouncing up near strong support level. RSI low, MACD crossing, wait for price closing above 9MA for confirmation. Analyst target price average at $309.57.
HD - long swingHD
Wait for bullish action confirmation and aggressively adjust stop-loss. Potential early exit at $286 price point
Reversal candle on dailywatch for a relief bounce here, bottom of range and a nice daily reversal candle
Tight stop loss, be careeeeeful I like the set up. Price seems to be in a major support, so I think a rebound would be feasible. The really tight stop loss give us little to loose and the bigger resistance seems to be far. Amazing risk reward ratio, so I am in! Always with stop loss tho.
