Home Depot (HD) Closes Last Hour Up $1.77; Moves Down For the 3rd Straight Day, in an Uptrend Over Past 90 Days

The Hourly View for HD

Last Updated September 18, 2020, 23:9 GMT

Currently, HD’s price is down $-1.71 (-0.61%) from the hour prior. This is the 2nd consecutive hour HD has seen its price head up. As for the trend on the hourly timeframe, we see the clearest trend on the 20 hour timeframe. The moving averages on the hourly timeframe suggest a bearishness in price, as the 20, 50 and 100 are all in a bearish alignment — meaning the shorter duration moving averages are below the longer duration averages, implying a stable downward trend.

Home Depot Inc Daily Price Recap

Home Depot Inc is down 1.7% ($4.77) since the previous day, marking the 3rd straight day a decrease has occurred. The price move occurred on stronger volume; specifically, yesterday’s volume was up 82.89% from the day prior, and up 21.82% from the same day the week before. Below is a daily price chart of Home Depot Inc.

HD

Home Depot Inc Technical Analysis

Notably, the current price of Home Depot Inc is sitting close to its 50 day moving averages; moving average crosses often indicate a change in momentum, so this may be worth keeping an eye on. The clearest trend exists on the 90 day timeframe, which shows price moving up over that time. For additional context, note that price has gone up 15 out of the past 30 days.

Overheard Around the Web

Here’s what one trader on StockTwits recently had to say in regards to HD:

    $HD I love HD but this action reminds me of LULU. First you hear little negativity on the networks. Then you get the downward momentum. They've done it to all stocks. Every stock out there has been heavily damaged. I'm guessing HD is next. Those in charge make money in both directions and they know it would be a tough haul to get this any higher.

    JT_Trader