Home Depot Inc (HD) 2 Day Up Streak Snapped, is Inching Close to 20 Day Average; Doji and Pin Bar Patterns Appearing on Chart

Home Depot Inc 4 Hour Price Update

Updated June 19, 2020 04:30 PM GMT (12:30 PM EST)

HD traders saw its share price jump 0.37% ($0.93) 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 0.5% on average during this time, while its peers in the broader Consumer Cyclical sector are up by an average of 1.11%.

Home Depot Inc Daily Price Recap

Home Depot Inc entered today at $249.21, down 0.65% ($1.64) from the day prior. This move happened on lower volume, as yesterday’s volume was down 20.98% from the day before — and down 9.99% from the same day the week before. The daily price chart of Home Depot Inc below illustrates.

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. 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 up 18 of the previous 30 trading days. Also, candlestick traders! Note we see doji and pin bar patterns appearing here as well.

Overheard Around the Web

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

    Wall Street can value companies quite richly when it sees a great growth story. The Street sees that temporary pain will be endured to grow the company horizontally with new products & services to improve margins and industry impact before true earnings power is established. In the last decade we have seen this with Amazon and more recently Shopify. The initial focus with them was growing the base horizontally with a world-class structure foregoing profits for now to see larger rewards down the road. I'm not implying that Plug is an Amazon or Shopify but demonstrating a point. These companies saw extremely rich valuations early because the Street could see the future, the rewards that were coming.
    A very similar thing is about to happen at Plug Power. With the recent acquisitions, Plug has built horizontally to become a "one-stop shop", a world-class premier leader in the Hydrogen New Energy Revolution. Plug is now ready and so is the global climate for Hydrogen.