The Hourly View for HD
Last Updated December 23, 2020, 02:07 GMT
At the moment, Home Depot’s price is down $-1.99 (-0.73%) from the hour prior. This move is a reversal from the hour prior, which saw price move up. As for the trend on the hourly timeframe, we see the clearest trend on the 50 hour timeframe. The moving averages on the hourly timeframe suggest a choppiness in price, as the are all in a mixed alignment — meaning the trend across timeframes is inconsistent, indicating a potential opportunity for rangebound traders.
Home Depot Inc Daily Price Recap
Home Depot Inc entered today at $270.04, down 0.35% ($0.95) from the previous day. This move happened on lower volume, as yesterday’s volume was down 30.98% from the day before — and down 13.31% from the same day the week before. Here is a daily price chart of Home Depot Inc.
Home Depot Inc Technical Analysis
The first thing we should note is that Home Depot Inc is now close to its 20 and 50 day moving averages, which may act as price barrier for the asset. Trend traders will want to observe that the strongest trend appears on the 14 day horizon; over that time period, price has been moving up. For another vantage point, consider that Home Depot Inc’s price has gone down 8 of the previous 14 trading days. As for those who trade off of candlesticks, we should note that we’re seeing doji and pin bar patterns appearing here.
Overheard Around the Web
Here’s what one trader on StockTwits recently had to say in regards to HD:
$HD Stimulus should send this stock flying as people flock there to spend their Christmas money. It will happen. It always does. I will be one of them too.