Home Depot Enters Today Down -0.56%

The Hourly View for Home Depot

  • At the time of this writing, HD’s price is down $-0.23 (-0.06%) from the hour prior.
  • This is a reversal of the price action on the previous hour, in which price moved up.
  • If you’re a trader with a preference for rangebound markets, you may wish to note that there isn’t a clear trend on the 20, 50 and 100 hour timeframes.
  • 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 $-2.07 (-0.56%) from the day prior.
  • This is a reversal of the price action on the previous day, in which price moved up.
  • As for the trend on the daily timeframe, we see the clearest trend on the 50 day timeframe.
  • Price action traders may also wish to note that we see a pin bar candlestick pattern on Home Depot. Given that we see an uptrend on the 20 daily candle timeframe, and that such candlestick patterns often denote reversals, this may be worth noting.
  • 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 between HD’s price and its RSI may be manifesting. As such, be on the lookout for trend reversal in HD’s price.

Below is a daily price chart of Home Depot.

HD

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