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Home Depot, Inc. (The)Home Depot, Inc. (The)Home Depot, Inc. (The)

Home Depot, Inc. (The)

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HD trade ideas

Bullish Triangle or trend line breakdown? Interesting setup in $HD after strong rally that the stock had in recent weeks. We saw double top pattern at 93$ resistance zone and yesterday the stock broke below minor support level (now resistance) that held it for almost a week. As long as $HD below 92$ (the minor resistance) we may see the stock attempting to break below the uptrend line shown in the chart. The other scenario is that we are looking at bullish Triangle here and a breakout above 93$ could lead this stock all the way up towards 100$. If we look at volume, we see increase in volume on the down days - Bearish sign. Monitor that trend line - Breakdown could lead to gap closure. Price action - We see two reversal patterns in 93$ - PinBar and Outside Bar. Read my newest article at the MarketZone website about Price Action: www.themarketzone.net
NYSE:HD
by themarketzone
HOME DEPOT SHORTHome Depot is on my watch-list for a short. With recent weakness in consumer discretionary and warnings from the CEO of Walmart and other earnings misses such as lumber liquidators I see weakness in this sector. .Big money is already selling ahead of earnings. I will wait for my setup. Will need two red bars below the 0 line on the Awesome Oscillator and I will short at the bottom of the price bar. The weekly chart is also very close for me to going short as well. At earnings I will be watching the forward guidance on this huge big box retailer
NYSE:HDShort
by paulyberndt