HD’s Price May Be in An Uptrend, but RSI Suggests Caution

The Hourly View for Home Depot

  • Currently, HD’s price is up $0.11 (0.03%) from the hour prior.
  • Home Depot has seen its price go down 8 out of the past 10 hours, thus creating some compelling opportunities for bears.
  • As for the trend on the hourly timeframe, we see the clearest trend on the 100 hour timeframe.
  • Price action traders may also wish to note that we see a pin bar candlestick pattern on Home Depot. Given that we see downtrend on the 10 hourly candle timeframe, and that such candlestick patterns often denote reversals, this may be worth noting.
  • The moving averages on the hourly timeframe suggest a bullishness in price, as the 20, 50, 100 and 200 are all in a bullish alignment — meaning the shorter durations are above the longer duration averages, implying a sound upward trend.

Home Depot’s hourly price chart is shown below.

HD

The Daily View for Home Depot

  • Currently, HD’s price is down $-2.91 (-0.78%) from the day prior.
  • This move is a reversal from the day prior, which saw price move up.
  • If you’re a trend trader, consider that the strongest clear trend on the daily chart exists on the 100 day timeframe.
  • The moving averages on the daily timeframe suggest a bullishness in price, as the 20, 50, 100 and 200 are all in a bullish alignment — meaning the shorter durations are above the longer duration averages, implying a sound upward trend.
  • Divergence alert: Trend in HD’s price and its RSI are diverging. HD’s price is rising faster than its RSI.

Below is a daily price chart of Home Depot.

HD

Featured Home Depot Commentary From Twitter

Was in HD today no parking avail lines at the check out people spending $$ BAM its gonna go. https://t.co/rScsrSjybuNA

petenajarian