HD rallied off the 106.62 low (April 30, 2015, near the 38.2% retracement of the 86.35/117.99 rise), forming a 3-week rising channel. Further gains open the 116.24 (April 9, 2015 lower high) ahead of the 117.99 record high (March 20, 2015). 110.83 (May 14, 2015 low) serves as the immediate support. A breakdown there is needed to dampen the bullish momentum and...
I'm guessing more downside. I currently have a corrective W4 in a extended w3 and should fall with even more downside after W3 completes. W4 invalidation occurs around $111.72 area and I'll have to reassess. .
There's a clear uptrend on the weekly chart although I don't think we will be resuming it just yet without further consolidation in the short term.
Open 2 positions for the two main targets. Move stops to protect positions once price has cleared them.
Good luck!
A glance at the weekly chart and one thing is obvious. When HD starts trending, it usually lasts for a long time. As highlighted on the daily chart, there is a very long consolidation that took place in 2014. This should provide thrust for further gains.
On the daily chart, the Force Index is oversold, and we have a corrective double bottom which, for a stock...
1-25
HD- See my post from 1-9-15
Check hourly ! Nice double top forming- Intraday entry close below 105.12 or on the retest- stop 106.24
Targets 103.598 intraday / swing target 2 100.38
If HD closes below 100.00 could be a nice bearish trade
Earnings 2-24
If HD GAPS UP OR TRADES 106.99 More bullish than bearisish
1-9 -15 New trade -
14 days ago I posted the previous chart stating if HD closes above 104 (it may hit bullish targets ) , but look out for a pullback becuase of the ascending wedge. HD traded to the top of the wedge and has given a bearish engulfing on 1/9 . If market continues bearish there could be a nice trade devloping if HD trades below 100.36 Target 96.28...
Taking a little off the top at the psychological level of $100 with excess supply, lo demand, distribution & pro active selling signals. High average trade size today indicates trading desks were active. I didn't check LOW yet as it is not a holding. Just managing risk and will use an option strategy also. Targets noted. This may play out in January. Time to...
Home depot seemed like a good sell two weeks ago. Now it's even a better sell. Explanations on chart. I have not decided yet if I am going to take this trade.
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...
The weekly chart doesn't really say anything to me
The daily has a double top, with divergence on the MACD lines, histogram and Force Index. I target 89$ and if that breaks, I would look to 83, where we had a lot of consolidation and usually areas like this get tested.
Based on the current uptrend channel, does it mean that the resistance sits at 90.0 or there is slightly more room for yet another channel top?
MACD & RSI have issued 1st cut warning.
It looks like a pistol or loudhailer chart pattern to me, something new
