HD trade ideas
Home Depot - Except Bullish 4 Rest Of 2016"W PATTERNS are call patterns" well "M PATTERNS are put patterns". As you notice on chart with PA two "W patterns with price action pattern. *If you go back on this chart to Oct- Dec 2015- bullish trend happened too. I expect for long term trend to be bullish, with some corrections or retracements along the way. Major support area of 125.00 shows a double bottom pattern now. Remember price action or what is going on right now is key, plus trend trading.
Traying to catch the Flag-BOHome Depot is consolidating the last upmove 123-139 in form of a bullish flag.
Trading below the 38.2 fibo could expand the consolidation
Home Depot "Under Obstruction": Here Are A Dozen Reasons To SellHome-Depot is not under construction, it is "under obstruction" (to near term advances in stock price).
Here are the ONE DOZEN negatives in-Home Depot, and why I feel this stock is a sell:
1. Sell Fractal in effect (red rectangle on chart).
2. Alligator jaws opened in tandem with sell Fractal. Alligator feeding in down-trend.
3. Chop indicator (under chart) is below the 38.2 shaded area. This indicates a strong trend coming that (in this case) is down.
4. Phase energy (lower top indicator) is heading LOWER. The action is below the zero line.
5. Momentum (middle top indicator) is the 5/34 measure, and this is a bearish cross and is heading lower. Histogram within is also heading lower.
6. Prices are trading below the Ichimoku Cloud .
8. Prices are trading below the Ki jun-Sen baseline of the Ichimoku Cloud. This is a sell signal.
9. Prices are trading below the thick red Ichimoku Cloud conversion line. This is a sell signal.
9. The red Ichimoku Cloud conversion line direction is heading lower. This is a sell signal.
10. The Ki jun-Sen baseline of the Ichimoku Cloud direction is heading lower. This is a sell signal.
11. The CHOP ZONE indicator (under chart) is red, indicating a down trend.
12. RSI/ Stochastic (top) is heading lower after a bearish cross.
In my opinion-HD is heading LOWER. I have given you a dozen negative signs as my objective evidence.
Good luck to you in all your trades. Don.
Cautious buyI am very cautious this close to the top and thinking the economy will be heading much lower in the coming months BUT this is such a great company. They are very strong and going into a horrible storm season I think we will see some great profits. I won't be putting much into this being my outlook and it's close to the all time highs but it is a good buy non-the-less.
HD about to roll over HD forming a wedge pattern; reject on the top trend line, should fall and find support at the bottom trend line.
top of cloud short watch close below 50 ma/same store sales baddiversify with long micro cap and short/retail maturing/rsi weak/money flow bad/macd and stoic about to cross/weak group/
Home Depot losing strengthHome Depot recently broke its short-term support of 132.09 and a bearish divergence appeared on the weekly chart. This presents a good shorting opportunity with little risk.
The long-term trend is still up so cover if it breaks out past 138. 5/26 after close
Home Depot Looking Overvalued I am short this one it is in overvalued condition with rejection from top.
Home Depot - Double topHD is a slow trending stock, it has been in an uptrend forever. That is why I want to take profits quickly, and not look for a serious correction.
Double top on the weekly chart with a bearish divergence, blue impulse. A broken H&S pattern on the daily and red impulse.
I am looking for price to reach value on the weekly. Note that the US market looks bearish right now.
HD: Beakout nearThe market is in a uptilted rectangular congestion. Two possible routes are in the chart.
HD - Wyckoff accumulation within larger distributionPossible LPSY of larger distribution area hit 3-3-16
HD could go either wayOn 18FEB, HD bounced off the linear support and SMA200. Next day produces a bullish hammer candle. From this point there is evidence to argue bullish and bearish. The EMA50 seems to be a strong resistance (12JAN, 29JAN-03FEB) for HD and could be a cap for bullish trend that HD has been presenting. Additionally, the past three days have shown relative highs accompanied by lower lows. There is not a lot of space between resistance and support for HD. Which level will end being stronger?
