Potential long entry for HD is in the works. The stock has seen a recent drop due to the latest earnings report. After losing ~10% due to the negative market reaction, there may be an opportunity to go long. I've taken note of the following:
- Approaching 200MA which can serve as support
- Chart is currently along the lower bollinger band
- Stochastic indicator is under 20; if it curls upward over 20 this can be a bullish sign
- RSI is oversold @ 30
I'll be keeping my eyes on this to see if there is a partial reversal in store
- Approaching 200MA which can serve as support
- Chart is currently along the lower bollinger band
- Stochastic indicator is under 20; if it curls upward over 20 this can be a bullish sign
- RSI is oversold @ 30
I'll be keeping my eyes on this to see if there is a partial reversal in store