Home Depot Inc (HD) Down 0.44%, in an Uptrend Over Past 30 Days; Pin Bar Pattern Appearing on Chart

Home Depot Inc 4 Hour Price Update

Updated September 01, 2020 04:27 PM GMT (12:27 PM EST)

HD’s price is up $1.24 (0.44%) over the past four hours of trading. To help put that in perspective, note that Home Depot Inc’s peers in the in the Retail industry are up 1.68% on average during this time, while the broader Consumer Cyclical sector is up by an average of 2.6%.

Home Depot Inc Daily Price Recap

Home Depot Inc came into today down 0.44% ($1.25) from the open of the day prior, marking the 3rd consecutive day a decrease has occurred. The price move occurred on stronger volume; specifically, yesterday’s volume was up 32.41% from the day prior, and up 16.38% from the same day the week before. The daily price chart of Home Depot Inc below illustrates.

HD

Home Depot Inc Technical Analysis

Notably, Home Depot Inc is now close to its 20 day moving averages, which may act as price barrier for the asset. Volatility for Home Depot Inc has been contracting over the past two weeks relative to volatility over the past month. Whether volatility reverts will be something to watch. Trend traders will want to observe that the strongest trend appears on the 30 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. Also, candlestick traders! Note we see pin bar pattern appearing here as well.

Overheard Around the Web

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

    $HD buy zones and support zones increased on the 2 and 1 SDEVs
    Hoping for the ex dividend movement
    Saw it currents pattern a lot the past 3 weeks has a chance of retracing its high by next week.

    FurZeRan