HD peaked at $207.31 on January 26th and proceeded to selloff with the broader market, to a closing low of $171.80 on March 23rd (17%). At the closing low, the 10-day RSI was 29 vs. 23 on the higher closing low of February 5th, setting-up a positive divergence. The peak RSI between the two lows was 49, so using that as a confirmation, HD signaled a "buy" on Thursday, March 29th with a closing RSI of 50.
-- Roy
-- Roy
Comment:
Still valid - looking for $178.70 for an entry.
Trade closed: target reached:
Taking profits @ $187 ahead of earnings on the 15th.