Long term view of the HD dca zoomed out view of the prior post, purple long term resistance is holding and we see a converging horizontal, reversing rsi, and bounce towards the teal level.
HDI trade ideas
HD looking to bounce on supportive intersectionHD looking to bounce on a tripe intersection of multiple support types. RSI may be reversing here, I am not trading this short-term but may use this area to add to long-term spot
HD update struggling to find supportHD is one of my long-term holds that I do not plan to sell for a decade or more. The stock rallied earlier this year but has been in free fall with questionable economic conditions. Wtih Warren Buffet buying heavily into home builders HD should eventually catch on to this trend as more materials are needed in the coming years. TA wise, HD is looking to bounce around the green line it approaches.
HD BUY++++ and add any weaknessHD has strong support around $281 and is oversold here on several indicators first target is $297 and as high as $319 second target in coming weeks
📈📊 #ChartPattern Alert! 📈📊 📈 Channel 📈A "channel," in the context of trading and technical analysis, is a chart pattern that forms when the prices of a financial asset move between two parallel lines, creating a kind of corridor or channel. There are two main types of channels: an ascending channel and a descending channel.
Ascending Channel: This channel forms when prices have an overall upward trend, but this trend is contained within two upward-sloping parallel lines. The lower level is the support, where prices often find buyers, while the upper level is the resistance, where sellers may come into play. Traders often view the ascending channel as a sign of the continuation of the existing uptrend.
Descending Channel: On the other hand, the descending channel forms when prices have a downward trend, but this trend is bounded by two downward-sloping parallel lines. The upper level is the resistance, where prices tend to retreat, while the lower level is the support, where minor bounces may occur. Traders typically interpret the descending channel as a sign of the continuation of the downtrend.
Channel analysis is an important tool for traders as it can help identify entry and exit points, as well as set profit targets and stop-loss levels. However, it's crucial to note that channels are not foolproof, and prices can break beyond the channel lines, signaling a change in trend.
In summary, a "channel" is a chart formation that depicts the direction and strength of a price trend in a financial asset. It's a useful tool for traders looking to make informed decisions about their market trades.
$HD buying opportunityNYSE:HD has been consistently staying above a few solid supports while remaining underbought, presenting a buying opportunity. Although the current decline in the housing industry is holding it down, the stock is looking promising from a technical standpoint at the moment.
HD climbing back to support after selloffHD is another long-term hold for me that went into a buy zone over the past few days.
HOME DEPOT Close to start forming the long-term bottom.Home Depot (HD) is near the Higher Lows trend-line of the 12-month Triangle pattern. Even though it's already on an excellent buy level, the distinc characteristic of the previous two bottoms has been an inner Higher Lows formation. That was the final Low before rising and never seeing such low levels again.
On top of that, the 1D RSI is remarkably oversold (even touched 20.00 at some point), so we already have a bullish opportunity at hand. Our target is the 0.786 Fibonacci level at 326.50.
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Island reversal pattern forming for Home Depot?Island reversal pattern forming for Home Depot NYSE:HD ?
Started in Feb 22 almost a year ago after earnings report.
If it completes, exceeding 339, then it will be a bullish reversal and 400-420 will be in play. So for next earnings it's possible that price will gap higher. Still watching though.
This is not advice. Do your own research and trade your own plan!!
Key support and resistance areasLots of bottoms, many volume. Just my two cents.
Range around 295 to 328
HD nearing support since 1985. Buy the trend. Easy Stop loss.LT support line drawn has been support since 1985. With over 35 years of support for the trend, I say buy the dips. Relatively easy stop loss below the trendline.
If we break channel... LT trend change and CAUTION.
If we don't break channel... happy days!
HD, Crucial, Two Formations Setup the BEARISH BREAKOUTs!Hello There!
Welcome to my new analysis about HD on several timeframe perspectives. As the whole stock market is moving into a decisive phase where more and more mixed sector stock developments emerge with many sector stocks to increase a bearish possibility while others still remain in a major bullish condition it is highly necessary to consider those stocks that have main bearish potential in a total-return approach to also profit when the stock price is declining. In this case I have spotted HD, a major potential short-side-candidate when considering the total-return approach in the current stock market.
As when looking at my chart now, the most important indication for HD is that it is forming two major bearish formations that are going to double the effect of bearish acceleration to the downside once they have been completed. The first bearish formation HD is forming is this gigantic head-and-shoulder-formation which is already in the final stages of completion as the right shoulder is about to be finalized. The second bearish formation HD is forming is the crucial bear-flag-formation forming simultaneously with the right shoulder and is also going to accelerate the bearishness hugely once a breakout has shown up.
Both bearish formations HD is forming here are pointing into the crucial bearish resistance-cluster into which HD is now moving, this means that there is an enormous high possibility for a massive pullback and bearish continuation towards the downside as HD is already attempting to do so there are not much confirmation signals remaining till the total bearish breakdowns. In this case it will be especially important on how HD actually moves below the two main EMAs here, with the first EMA being the 65-EMA marked in red, and the second EMA being the 200-EMA in blue. Once HD broke out below the 200-EMA in blue as well as the lower boundary and neckline of the gigantic head-shoulder-formation this is going to setup the bearish-continuation and bearish-acceleration to activate the target-zones.
Currently all indications point to the massive bearish continuation and acceleration to setup in the next times. Especially, when other major sector stocks turn bearishly to the downside this can have an acceleration effect on HD also. Once the formations have been completed it is going to activate the target-zones as seen in my chart between the 177.5 and 185 level. In this case HD will show how much it is going to increase the bearishness once it approaches these levels because if there is an extremely high bearishness there is also the possibility that HD just breaks down with exponential high bearish pressure below these levels and even does not attempt to form a reversal in this zone.
In this manner, thank you everybody for watching the analysis, support from your side is greatly appreciated.
VP
HD coming back down to earth, healthy correctionHD looking to drop to 302$ ish, maybe slightly further using the teal diagonal line. HD is one of my long-term dividend/safer holds that I plan on holding for a very long time. I use these charts to help with entries and DCAs after deciding on my thesis. HD has had 3-4 amazing opportunities on the purple support line which is where I started to build my long-term position.
HD, This Formation Is The Crucial Factor For Futher Outcomes!Hello Traders Investors And Community, welcome to this analysis where we are looking at the stock value HD 4-hour timeframe perspective, the current formation and what to expect from this stock the next times. Although HD has formed some new highs it is struggling at the moment as the volatility gets extremely low and the price weakens it can be possible to reverse, in such environment it is important to note that there are stocks which gained strongly out of the corona crisis and stocks which showing bearish signals, as HD has shown some bullish signs this can reverse to the other side now therefore I detected some important signs to consider which will determine the further outcomes.
Looking at my chart you can watch there that HD has formed this huge possible rising-triangle-formation which is marked in blue where the price already severaly touched the lower and upper boundary within its low-volatile movement, what is important is this movement as it gets slower and slower here the price struggles to advance, such movement can suddenly reverse which is also playing into the rising-triangle-structure the stock is building up here. This triangle will confirm when the price closes with a volatile move below the lower boundary and therefore confirms the triangle, a continuation to the downside will be highly possible and should be considered when this happens.
When the more likely bearish scenario plays out here the stock will look for remaining supports which is firstly the 100-EMA marked in red which is a possible support that can hold and when it does not the next support will be at the 300-EMA marked in black, in these levels the stock can reverse and possibly continue bullish on the middle or even on the long-term but this has to be confirmed rightly. Although a immediate aggressive approach is also possible here such formation can be traded best possible with a confirmation of the whole triangle-formation with a close below the lower boundary and cotinuation, it will be highly interesting how this is playing out in the current structure.
In this manner, thank you for watching, support for more market insight and have a good day!
“The fundamental law of trading is the forecast of the future.”
Information provided is only educational and should not be used to take action in the markets
Downtrends May Have Begun in HousingHomebuilders were a surprise leader in the first half. But with interest rates staying high, bears could be moving into the neighborhood.
Today’s chart focuses on Home Depot. Similar patterns appear on related charts including NYSE:LEN Lennar, NYSE:PHM PulteGroup and NYSE:TOL Toll Brothers.
The first issue is potential bearish divergence. HD made a six-month high on August 15. But notice how MACD, Wilder’s RSI and Rate of Change peaked earlier and were falling at the time. Those lower studies may indicate slowing momentum.
Second is the emergence of a potential falling channel. In late August, HD dipped below its price range from earlier in the month. It then peaked around $333 on September 1, which was about $5 below the August 15 zenith. In other words, a lower low was followed by a lower high.
Finally, the macro environment may be more difficult for housing. Optimism about supply and demand boosted sentiment earlier in the year. But now strong economic data could be keeping rates higher for longer. That may cause some anxiety and reality checks in the coming weeks.
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HD to Consolidate Before BreakdownHD hasn't been able to break a strong resistance level. The uptrend channel has also been breached. Likely to go up and down near the resistance level before losing power and breaking down.
HD as steady as ever. Get in at this low.Long-term channel on a log chart. Revenues and profits incredibly stable.
Nothing not to like.
Potential head n shoulders playing outPlanning a short if the right shoulder plays along. Measured move down for a swing trade.
HOME DEPOT Last strong buy opportunity.Home Depot Inc (HD) is trading within a Channel Up since the May 16 Low, strongly supported by the 1D MA50 (blue trend-line) following a 1D Golden Cross. The pattern is quite similar to the October - December 2022 bullish Channel and as a result we treat this as the last strong buy opportunity before the Resistance Zone test. Our target is its top at $347.65. Notice that the 1D RSI is also on a Higher Lows trend-line, the trend shift will most likely occur after that breaks.
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Home Depot short entryHome Depot (HD) reported earnings of 4.65 per share on revenue of 42.92 billion for the fiscal second quarter ended July 2023. The consensus earnings estimate was 4.46 per share on revenue of 42.25 billion. The company beat expectations by 4.03% while revenue fell 2.00% compared to the same quarter a year ago. The company said it continues to expect fiscal 2024 earnings of 14.52 to 15.52 per share on revenue of 149.53 billion to 154.26 billion. The current consensus earnings estimate is 14.95 per share on revenue of 152.39 billion for the year ending January 31, 2024.
8/18 expiry:
Put Volume Total 34,123
Call Volume Total 31,847
Put/Call Volume Ratio 1.07
Put Open Interest Total 52,767
Call Open Interest Total 46,824
Put/Call Open Interest Ratio 1.13
8/25 expiry:
Put Volume Total 6,227
Call Volume Total 7,229
Put/Call Volume Ratio 0.86
Put Open Interest Total 3,369
Call Open Interest Total 2,098
Put/Call Open Interest Ratio 1.61
9/1 expiry:
Put Volume Total 922
Call Volume Total 819
Put/Call Volume Ratio 1.13
Put Open Interest Total 1,505
Call Open Interest Total 1,177
Put/Call Open Interest Ratio 1.28
HD The Home Depot Options Ahead of EarningsIf you haven`t sold HD here:
Then analyzing the options chain and the chart patterns of HD The Home Depot prior to the earnings report this week,
I would consider purchasing the $325usd strike price Puts with
an expiration date of 2023-9-15,
for a premium of approximately $7.15.
If these options prove to be profitable prior to the earnings release, I would sell at least half of them.
Looking forward to read your opinion about it.
Home Depot, Inc. (‘HD’)Home Depot, Inc. (symbol ‘HD’) share price has made some profits in the second quarter by just over 10%. The company’s earnings report for the fiscal quarter ending July 2023 is set to be released on Tuesday 15th of August, before market open. The consensus EPS is $4.46 compared to the same quarter of last year at $5.05.
‘The company is currently performing exceptionally well compared to the start of the quarter but there are some financial issues to be paying attention to. Even though the home improvement giant has a current ratio of 1.27 , the debt to equity ratio as of 30/04/2023 is at 113.03 indicating that the company is operating at a great level of debt which is something that might discourage investors to direct their funds towards the company.’ said Antreas Themistokleous at Exness.
From the technical analysis perspective the price is trading in an aggressive bullish rally for the last 2 months with some signs of possible correction in the near short term. The first indication is the extreme overbought Stochastic oscillator which is in this level for an extended period of time and more specifically around 3+ weeks. The second indication is that in the recent sessions the price moved away from the Bollinger bands after consecutive touches of the upper band which usually but not always a correction follows.
If this scenario is confirmed in the following we might see some support around the $320 price area which consists of a reaction area since mid February as well as the psychological support of the round number. On the other hand if the bulls prove to be stronger than the bears then we might see the price retesting the previous highs around the $340 level.
