Home Depot (HD) Closes Last Hour Down $-1.81; Eyes 100 Day Average, Price Base in Formation Over Past 30 Days, Heads Up For the 3rd Consecutive Day

The Hourly View for HD

Last Updated January 13, 2021, 23:9 GMT

Currently, Home Depot’s price is up $4.03 (1.46%) from the hour prior. This is the 3rd hour in a row Home Depot has seen its price head down. 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 came into today up 1.88% ($5.1) from the open of the previous day, marking the 3rd consecutive day it has gone up. As for how volume fared, yesterday’s volume was up 5.95% from the previous day (Monday), and up 52.93% from Tuesday of the week before. Below is a daily price chart of Home Depot Inc.

HD

Home Depot Inc Technical Analysis

Moving average crossovers are always interesting, so let’s start there: Home Depot Inc crossed above its 100 day moving average yesterday. Trend traders will want to observe that the strongest trend appears on the 90 day horizon; over that time period, price has been moving down. Price action traders in particular will want to note that the 30 day period appears to show price forming a base; this could indicate that a support/resistance level is developing. For additional context, note that price has gone up 7 out of the past 14 days.

Overheard Around the Web

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

    $HD Guggenheim Upgrades Home Depot to Buy From Neutral; Price Target is $310

    1/13/21, 4:28 AM
    07:28 AM EST, 01/13/2021 (MT Newswires) — Home Depot (HD) has an average rating of outperform and price targets ranging from $210 to $350, according to analysts polled by Capital IQ.

    Jemi