Home Depot (HD) Price Near $270.97; 4 Day Up Streak Snapped, Eyes 20 Day Average, Price Base in Formation Over Past 14 Days

The Hourly View for HD

Last Updated December 21, 2020, 23:31 GMT

At the moment, Home Depot’s price is down $-2.74 (-1.01%) from the hour prior. The hourly chart shows that Home Depot has seen 2 straight down hours. If you’re a trend trader, consider that the strongest clear trend on the hourly chart exists on the 50 hour timeframe. Price action traders may also wish to note that we see a pin bar candlestick pattern on HD. Given that we see downtrend on the 20 hourly candle timeframe, and that such candlestick patterns often denote reversals, this may be worth noting. 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 $270.99, up 0.2% ($0.54) from the previous day. This move happened on lower volume, as yesterday’s volume was down 62.34% from the day before — and down 12.38% from the same day the week before. Below is a daily price chart of Home Depot Inc.

HD

Home Depot Inc Technical Analysis

Coming into today the current price of Home Depot Inc is sitting close to its 20, 50 and 100 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 30 day timeframe, which shows price moving down over that time. For additional context, note that price has gone up 6 out of the past 10 days.

Overheard Around the Web

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

    $HD I am using Homedepot.com online shopping like never before. The selection is many times GREATER than in the store. I do not know why I did not start using this earlier. Driving from store to store to find sold out items that were available on their online site. I even get free shipping. This stock is heading for $400 after the stimulus comes out. Expect it soon.

    ChiefOptionsTrader