Home Depot (HD) Closes Last Hour Down $-1.22; 2 Day Up Streak Broken, in an Uptrend Over Past 90 Days

The Hourly View for HD

Last Updated October 20, 2020, 10:14 GMT

Currently, HD’s price is up $1.21 (0.42%) from the hour prior. The hourly chart shows that HD has seen 3 straight down hours. If you’re a trend trader, consider that the strongest clear trend on the hourly chart exists on the 100 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 $283.73, down 1.37% ($3.93) from the day prior. The change in price came along side change in volume that was down 22.6% from previous day, but up 6.74% from the Monday of last week. Here is a daily price chart of Home Depot Inc.

HD

Home Depot Inc Technical Analysis

Notably, the current price of Home Depot Inc is sitting close to its 20 and 50 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 14 day timeframe, which shows price moving up over that time. For another vantage point, consider that Home Depot Inc’s price has gone up 10 of the previous 14 trading days.

Overheard Around the Web

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

    $FSLR $HD $MCD $UPS

    FSLR- This can be on the verge of a breakout. With a cup and handle formation. If this happens this can shoot up to 90 this week. Watch the chart closely and a potential spread wouldn’t be so bad. Huge downside though in the 70s so risk vs reward play as er is coming soon.

    HD- still in a good pattern and I believe with good ER it can gap to the 300 upper resistance as the first level. Downside 278.
    MCD- if it can reclama 230 and above it can try to test this close wedge play. If it breaks can see a good trend towards 240+ mid term. Downside if it breaks some where along the low 220s

    UPS- as long as ups trades above 170 I don’t why this cant see 180 this week and a potential gap fill to 200+ if er hits. Max pain somewhere near 163

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