The Hourly View for HD
Last Updated December 25, 2020, 02:012 GMT
Currently, Home Depot’s price is up $0.56 (0.21%) from the hour prior. This is a reversal of the price action on the previous hour, in which price moved down. 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
The back and forth price flow continues for Home Depot Inc, which started today off at 270.92 US dollars, up 0.41% ($1.11) from the day prior. This move happened on lower volume, as yesterday’s volume was down 53.2% from the day before — and down 69.33% from the same day the week before. The daily price chart of Home Depot Inc below illustrates.
Home Depot Inc Technical Analysis
Coming into today Home Depot Inc is now close to its 20 and 50 day averages, located at 269.09 and 273.87 respectively, and thus may be at a key juncture along those timeframes. The clearest trend exists on the 14 day timeframe, which shows price moving up over that time. Or to view things another way, note that out of the past 14 days Home Depot Inc’s price has gone up 7 them.
Overheard Around the Web
Here’s what one trader on StockTwits recently had to say in regards to HD:
$HD ATLANTA, Dec. 24, 2020 /PRNewswire/ — The Home Depot®, the world's largest home improvement retailer, has completed the acquisition of HD Supply Holdings, Inc., for a total enterprise value (including net cash) of approximately $8 billion. HD Supply is a leading national distributor of maintenance, repair and operations (MRO) products in the multifamily and hospitality end markets. The agreement to acquire HD Supply was announced on November 16, 2020.
Closure of the deal hopefully should be bullish for next week!