HDI trade ideas
HD bearish scenario:🌟HD bearish scenario:
We have technical figure Triangle in US company The Home Depot Inc. (HD) at daily chart. The Home Depot, Inc., commonly known as Home Depot, is the largest home improvement retailer in the United States supplying tools, construction products, and services. The Triangle has broken through the support line at 18/11/2020, if the price holds below this level we can have possible bearish price movement with forecast for the next 4 days towards 263.44.00 USD. Our stop loss order should be placed at 281.29 USD if we decide to enter this position.
💚fundamentals-
The retail sales report released by the Commerce Department showed spending decelerating as the holiday shopping season approaches amid a lack of forthcoming fiscal relief from Washington.
$HD with a bullish outlook projectedAfter a Negative over reaction following $HD earning release, the PEAD projected a bullish outlook placing it in Drift C
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Rectangle Earnings 11-17 BMORectangles are a continuation pattern as a rule but can break up or down like a symmetrical triangle
Earnings in am
HD has pierced bottom trendline of a RW at 266ish but did not dwell there long
Mid rectangle is 277.88 which would be a possible stop whether this breaks up or down
Good luck!
Consolidating for next leg upHD was on a great run and looks to be building a base for the next leg up. Can play from 278.49 to the top of the box or at a break of 292.51. Short below a break of 261.13.
Home Depot. Long from 265$ to 300$. Easy MoneyMonthly
In Uptrend since 2012
Weekly
Doube Top on Uptrend
Wait for correction on Fib 618
In uptrend then wait for buy
Daily
Flat
Clear Divergency by RSI
=Wait for correction down, also Harami bar confirms it.
When correction is ended
From w1 of 2021 I will open Long
OPEN 265$
SL 250$
TP 300$ will reach in April 2021.
TP2 330$
RR 2.71
RectangleStop would be mid rectangle whichever way rectangle breaks/above or below MR
Targets listed for up and for down
A rectangle pattern is not completed until a break out has occurred
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.
I have noticed sometimes a stock breaks out of rectangle only to return to it..IE Visa
HD was also in a rising wedge pattern but has dropped out/pierced bottom trendline at 271ish
Not a recommendation
Home Depot almost at breakoutHi guys, I am still very new to graphing trends, so any advice would be greatly appreciated. Please do let me know what I am doing wrong and how I can improve on this analysis for all the more experienced ones out there. Thank you
Bullish: Breakout Expectations (Beta)Trade Plan,
Target price @ US$293 (Previous High)
Stop loss a@ 274.50 (Below17D SMA)
Technically,
Stock is consolidating within a triangle pattern with expectations of bullish breakout.
Fundamentally,
Beneficiary of Work from home trend and a recovering economy. PE at 25.8x and Div Yld at 2.15%.
Company Background,
Operates 2,291 home depot stores offering building materials/home improvement and lawn/garden products.
HD 4 hr descending triangle NYSE:HD with a strong descending triangle pattern on the 4hr. I am looking for a breakout above the resistance trend line and using the previous 3 supply zones (where HD previously tested the downward trend) as points of TP/continuation confirmation. While I anticipate a bullish breakout, it should be noted that a breakdown below 260 on the demand base has significant room to the downside. I would be very surprised if we actually see a break below this demand, but could see us testing again before making a breakout push. If we do test the 260-265 demand again, there appears to be great value in playing a bullish bounce off 265.
