HD trade ideas
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?
Can HD Bost?This dog of the dow was just ripping through highs, can $HD recover from this? It’s Dividend play? I think it’s depending on your portfolio“S”or even those funds that are only access to brokerage services and what not but, I’m holding 34 shares in this stock on Gurufocus I am bullish long-term of The Home Depot INC. I don’t think it’s a technical perspective that might scream sell. There is no signal on 2/17 but, watch this stock and keep your eyes on this stock. I’m expecting to see $125 break again and make that support and rally from there. I’m a buyer
HD 2nd retest gap in a row.HD closes with a second bullish retest gap in 2 days closing at minor resistance level from mid OCT and NOV of '15. The fact it follows a morning star reversal adds to the bullish sentiment of the past few days. However, the most recent candle closes on the SMA 200 which could prove to be a resistance point as well. If next candle breaks out of the SMA 200 resistance as well as linear resistance line, I would feel more bullish than bearish in the coming days.
S/R Levels Home Depot 1HR Chart Hi all, these are the support / resistance levels for NYSE:HD
As you can see marked by the dashed green line we have weekly support at 112.38 which would of been an ideal area to get long on the retest of support.
Resistance is currently at 116.30 with 121.07 following shortly.
Monthly support is at 109.49
A potential trade: If I hadn't gotten long at the 112.38 retest, than my next option would be to go on a 15 minute chart and day trade the breakout above 116.30 resistance. How? There is a good chance we'll open with a gap above resistance so if that happens there is a good chance the gap will be filled and we will see a retest of 116.30 in which you would keep your eyes on the tape to spot the change of hands between buyers / sellers. Once buyers enter the market then I would get long with two long targets of 118.60 and 120.50 with a stop loss around 114.85.
(This would be my trading plan if I wasn't already long HD)
This is somewhat an example of my thought process when trading.. You see even if I plan on day trading, I always have a plan in mind for the following day. Which in return prevents me from chasing every single stock that's making a move and also helps remove the emotion out of the equation because I planned ahead for different scenarios, and ways to trade them or simply not trade them.
Happy trading guys/girls! =)
HD short term bearishHD is in uptrend but in short term show bearish.
Price maybe decrese to trend line.
HD LONGHD has held up fairly well during this
market turmoil. I look for a retest of the
highs on this stock. Both the Acceleration
Oscillator and Awesome Oscillator are green on
the weekly showing that price is in the zone. If this
trade is triggered my stop would be below the alligator
blue line
DOW JONES OVERVIEW: HD HOLDS MACRO UPTRENDOn long term basis, Home depot holds uptrend - price is trading above 1st standard deviations from 5- and 10-year means.
On short term basis, price is trading laterally - it is trading within 1st standard deviations from both 1-year and quarterly moving averages.
Moreover, current short term lateral range is outlined by the 1st standard deviations from quarterly mean (111-118)
Thus investors willing to take positions with the macro trend should look for pullbacks to the lower border of the short term lateral range
May have more upside potential, but it could be limited$HD is showing strength in a consolidating market and making its third attempt to break the 118$ resistance zone.
Right now, 118$ is a strong resistance that may hold and send the stock back down to test the bottom of the rising channel you see in the chart.
If $HD breakout attempt will be successful and the price will close above 118$, it may rally towards its broken uptrend line, there the price will meet a very interesting sell zone that I intend to monitor closely towards earnings (coming in two weeks).
The zone 121-123$ is a potential sell zone with bearish Butterfly completion and Fib extensions confluence range.
The initial target zone for this bearish scenario is 118$ (current resistance that should become support in that scenario).
My secondary target, should the price close back below 117$, would be the daily 200 SMA line, near 110$
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Continued Review of the possibilities in Home DepotSeeing the way the MACD and MFI is acting, I would say there is significant risk to the downside. However if you are already long from the recent low, then I would probably look for a continuation of the more obvious trend
Could we see a retest of the recent large red candles midpoint? Possibly. And then either re-enter the bearish channel or chug through the volume zone overhead. There is also a candlestick pattern below.
I'm not in a trade atm, but I wan't to see how this turns out...
- If you want to get short, perhaps look for a better Risk/Reward ratio with a new bearish candlestick formation
- If you want to be long, you should have been in on the bullish candlestick pattern or on the Stochastics signal for a better Risk/Reward ratio
- *If* you are willing to risk it and commissions are not too high, you may be able to get a dollar in either direction with a very tight stoploss under/over the last printed candles wick or, should you like it better, over/under the low/high of the red candle we had before the last big red one.
HD Day Trade Retest Gap (Brad Reed May19,2015)If HD opens above 116.24 consider using the Retest Gap strategy. To get a free and complete stock trading education go to www.RealLifeTrading.com
HD $114.47: Rallies to form a 3-week rising channelHD 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 reopen 106.62.
Outlook:
Short term: bullish
Long term: bullish
Momentum indicators improving, BB's opening up into earningsWeekly 115 calls active, straddles looking for $3.65 move this week
Just getting out some thoughts on HD 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. .
50DMA bounceThere'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!
Home Depot - Slowly trending higherA 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 that moves slowly like HD, is a perfect entry signal. The impulse is still red, but on Friday we have a bullish engulfing candle. Price will probably gap higher on the open, turning the impulse from red to blue.
