HDD trade ideas
The Home Depot Stock Embarks on Seasonal Bullish TrendThe Home Depot Inc. (HD) stock is entering a seasonal uptrend following the formation of a potential head and shoulders pattern at its recent bottom. This technical formation, often indicative of a reversal, has paved the way for a new bullish impulse, with the current price standing at $359.77.
Our analysis suggests a promising opportunity for a long position as the stock embarks on this upward trajectory. The bullish sentiment is further reinforced by the seasonal patterns historically observed in Home Depot's stock performance during this period. With this backdrop, we are closely monitoring the price action for a retest of the previous demand area at $354.13.
This demand area, which previously provided substantial support, is a critical level to watch. A successful retest and bounce from this zone would validate our bullish outlook and provide a favorable entry point for a long position. The target for this move extends through to September, aligning with the typical seasonal strength observed in Home Depot's stock.
The head and shoulders pattern observed at the bottom is a classic reversal signal, suggesting that the prior downtrend has likely concluded, and a new uptrend is underway. The recent bullish impulse from this pattern adds credence to the potential for continued upward movement.
Investors should consider the broader market environment and Home Depot’s fundamental strengths. As a leading retailer in the home improvement sector, Home Depot benefits from strong consumer demand, especially during the summer months when home improvement projects typically increase. Additionally, any positive economic indicators or consumer confidence data could further bolster the stock’s performance.
In conclusion, with Home Depot stock currently priced at $359.77 and showing signs of a seasonal bullish trend, we are preparing to open a long position on a retest of the $354.13 demand area. This strategy aims to capitalize on the anticipated bullish momentum through September, supported by the head and shoulders reversal pattern and historical seasonal trends. Investors should remain vigilant, keeping an eye on key support and resistance levels to make informed trading decisions.
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HD Trendline breakout 352 above breakout
360/365/371 /385 can test soon
resistance breakout possible
ETF Developers Buying Ahead of Q2 Earnings Reports: HDThis Dow component was the highest gainer for the average with a modest 2.10% gain yesterday. NYSE:HD price action was very controlled. Volume was slightly below average indicating it was likely ETF developers buying ahead of the earnings report.
Accumulation/Distribution indicator confirms this price range is a buy zone.
This is a technical setup to watch for pre-earnings runs for swing trading.
Home Depot (HD) in Daily ChartHello
After Oct 2023 HD started to make a rally and now it seems that it is tired and reversed but I do not confirm a bearish market for HD unless I can count a bearish impulse wave. According to the chart, wave 1 and 2 minor ended and we in wave 3 unless it was an abc and trend continutes to its bullish movements.
What makes it clear for us is that we can complete 5 waves minor (Wave 1 Intermediate) and then its correction as an ABC (Wave 2 Intermediate) and after all these confirmations and also trigger break out, momentum, Ichimochu and MACD and RSI and .... (Whatever you have for your technical confirmations) we can get a SELL POSITION.
ENJOY THIS CHART
Thanks
HD update in H4 chart Hello
We have discussed about this trend and its opportunities in our last published idea and nothing is changed. I just want to give a complementary wave counting.
In addition, the best wave for trade in EW method is wave 3 of 3 specifically in bearish market. I do not know if this counting is true or not, but we can confirm it if it drops down.
HD (Home Depot) Weekly Chart AnalysisHD's share price has been choppy around the last quarter of 2021 and has been trading between the $270 to $330 range in 2022 and for most of 2023. In the last quarter of 2023, HD's share price broke out of the range of $330 and has pulled back to the top of the range where it was once resistance (highlighted red). It now shows support and consolidation in the $330 price range, which can be viewed as a good price level for entry. If the price were to break down below $330, the next potential level will be $300 and $280.
HD - Double Top DropDouble top at the red top horizontal
Could drop down to the dotted white line
I dont know if the green trend line will persist any longer
Daily chart
$HDNYSE:HD setting up nice ascending triangle on hourly timeframe, once we get able 345, we should fill that gap above 350-360, Consolidation is building nicely on the daily as well.
Home Depot Classic Top Breakout/Cup & HandleHome Depot setting up for a top bullish breakout. You might call it as a cup and handle as well.
1st Profit Target: 365
Stop Loss: 335
Never forget to manage your risk and ensure the broader market has your back.
Conservative Investment Trend Trade HD LongMonthly Trend Trade
" + long impulse
+ 1/2 correction"
Daily Conservative Trend trade
"+ long impulse
+ 1/2 correction
+ ICE level
+ support level
+ biggest volume Sp"
Calculated affordable virtual stop loss
1 to 2 R/R take profit
Broker set up:
May-20-2024
Buy HD at Market (Day)
May-20-2024
OCO 3A: Sell HD Stop at $332.37 Limit at $337.86 (Good 'til Canceled)
May-20-2024
OCO 3B: Sell HD Limit at $348.84 (Good 'til Canceled)
HD, New long term base created, expect NEW PRICE GROWTH!NEW BASE created for new GROWTH.
With a company like HD with solid fundamentals -- this should be a no brainer be part of your portfolio.
KEY NOTES: MONTHLY DATA
HIGHER Lows on monthly data:
Double bottom rebound.
78.6 FIB level touch (bargain), currently bouncing off with precision.
Monthly descending trendline BREAK. Huge hint.
Massive net buying volume at current range.
Spotted at 310.
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*Something to factor in as well
Last earning calls May 2023
EARNINGS: 3.82
REVENUE : 37.25
Upcoming earning calls (expected) August 2023
EARNINGS: 4.44
REVENUE : 42.2
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TAYOR.
Safeguard capital always.
BUY HDInvesting differs from trading as it focuses on long-term growth and sustainability of assets rather than quick gains. An investment idea involves committing money to ventures, projects, or assets expected to grow in value over time, such as stocks, bonds, or real estate.
Investing requires understanding the fundamental factors that drive growth and stability. It involves detailed analysis of opportunities, like evaluating a company's financial health and potential for innovation, to minimize risk and maximize long-term gains.
Home Depot DivergenceHome Depot is a stock that loves bull and bear divergences in technical terms. There have been 3 bullish divergences since 2022, all of which have brought an average return of around 25%. The last divergence is now in place and a potential 25% return would push the stock over $400.
Home Depot Posted First-Quarter Earnings That Beat Expectations Home Depot ( NYSE:HD ) reported disappointing first-quarter earnings and revenue that missed Wall Street's expectations. The company is experiencing customers deferring major home projects due to high interest rates, which has led to a focus on building its business with professionals, including through its acquisition of SRS Distribution. The company expects total sales to grow about 1% in fiscal 2024, including an additional week from the prior year. However, it anticipates comparable sales, which take out the impact of store openings and closures, to decline about 1%, excluding that additional week.
Home Depot's Chief Financial Officer Richard McPhail said customers are in a waiting game that began in the second half of last year, as they responded to mortgage rates climbing. He said the company anticipated those trends would continue. "The home improvement customer is extremely healthy from a financial perspective," he said. "What they tell us is they're just simply deferring these projects as given higher rates, it just doesn't seem the right moment to execute."
Home Depot's sales for the three months that ended April 28 compared with what Wall Street expected, based on a survey of analysts by LSEG:
Earnings per share: $3.63 vs. $3.60 expected. Revenue: $36.42 billion vs. $36.66 billion expected. Net income for the fiscal first quarter decreased to $3.6 billion, or $3.63 per share, from $3.87 billion, or $3.82 per share, in the year-ago period. Net sales fell 2.3% from $37.26 billion. Comparable sales dropped 2.8% in the fiscal first quarter across the business and declined 3.2% in the U.S.
Home Depot ( NYSE:HD ) has seen sales moderate after more than two years of explosive demand during the COVID-19 pandemic. The company posted its worst revenue miss in nearly two decades and cut its forecast in the year-ago first quarter. Home Depot's sales totaled $152.7 billion in the fiscal year that ended in late January, a drop of 3% year over year.
Inflation may also be playing a role in that pullback, as consumers spend more money on essentials and have to make trade-offs when spending discretionary income. However, McPhail said Home Depot is not seeing customers trade down to cheaper items, like less expensive power tools or appliances. He pinned the company's softer sales in large part on consumers' "deferral mindset" and a housing market that has slowed dramatically.
To overcome slower sales, Home Depot ( NYSE:HD ) has revved up its strategy to attract pros, since they tend to buy larger quantities and offer a steadier source of sales. In March, Home Depot announced that it would acquire SRS Distribution, a Texas-based specialty distributor of roofing, landscaping, and pool supplies, for $18.25 billion in the largest acquisition in the company's history.
Along with wooing pros, Home Depot ( NYSE:HD ) is poised to drive growth by opening about a dozen new stores this fiscal year and adding features to improve its online and in-store experience. Shares of Home Depot closed Monday at $340.96. So far this year, Home Depot's shares have fallen about 2% compared with the roughly 9% gains of the S&P 500.
The 0.5% After Hours Pump And DumpIt is very problematic when you look at the after-hours screen then you see
that gosh you was wrong on your prediction
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The truth is this is not a prophecy you can be wrong on any price action
so always keep an air of doubt in your thesis
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An announcement was made on public news that This stock might suffer because of low sales for the year the earnings report is coming out this morning
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when this does when shall know if this gap down will happen also
take note of the pre-market hours coming out soon
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There is a very little cure for fear but right now we
just have to hold on tight to our thesis and
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probability and see what happens at the
pre-market hours time frame.
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When i was looking at the after-hours data doubt sank deep inside my heart thinking
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"Am i wrong about the probability of this stock crash?"
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Trading is a ruff game of capitalism you need to have thick skin or else
you will be swinging around and round with the crowd doubting your price predictions
and trend analysis
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Please read the disclaimer below
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Disclaimer:This is not financial advice do your own research before you buy or sell anything trading is risky and you will lose money
⚠️WARNING: Why 22 Analysts Are Wrong About This Stock‼️These analysts are wrong , wrong, about the rating given to this stock on the short term,
also, can you imagine how come that some investors are actually going to
screen this stock based on analyst ratings?
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This is why am not a fan of analyst ratings
Do you follow analyst ratings?
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This not the way for you
look at this chart and notice that the price has hit a resistance on the Bollinger band
top this has caused the price to immediately crash at the market open
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With such a price action the following is probably going to happen:
-Gap down
-Price will drop tomorrow
-There will be a lot of retail buyers to hold the bag
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I don't want you to be holding the bag on this one
so based on this technical analysis what do you think will happen to this stock?
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Let me tell you what I expect, this stock will crash tomorrow
after earnings.
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Disclaimer: This is not financial advice please do your own research before you buy or sell anything
HD The Home Depot Options Ahead of EarningsIf you haven`t sold HD before the previous earnings:
Then analyzing the options chain and the chart patterns of HD The Home Depot prior to the earnings report this week,
I would consider purchasing the 350usd strike price Calls with
an expiration date of 2024-5-17,
for a premium of approximately $5.85.
If these options prove to be profitable prior to the earnings release, I would sell at least half of them.
HD possible support areas NYSE:HD possible support area but the Fast STO long and short term are not over sold on the weekly
HOME DEPOT Buy opportunity on the 1D MA200.Home Depot (HD) gave us last time (October 09 2023, see chart below) an excellent buy opportunity that quickly hit our 326.50 Target:
The Bullish momentum was so strong that it broke above the Triangle pattern and gave way to the emergence of a Channel Up. The recent 30 day correction since the March 21 High, can be technically seen as the new Bearish Leg of the Channel Up.
With the 1D MACD about to make a Bullish Cross, which has historically been an early buy signal for HD, we have the best buy opportunity at hand since October 27 2023, even though the downside can easily extend as low as 322.00 (-18.80% from the top).
This is good enough for us to buy and target initially the 1.236 Fibonacci extension at $415.00.
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Building a Position with HDHome Depot, like other equities, experienced a sell-off in recent weeks. However, it has found support at a key level. I'm establishing a position with this key level as my stop-loss, anticipating a week or two of recovery.
