Home Depot (HD) Price Near $279.92; Crosses 20 Day Moving Average, Heads Down For the 2nd Consecutive Day, Price Base in Formation Over Past 30 Days

The Hourly View for HD

Last Updated September 17, 2020, 23:13 GMT

At the time of this writing, HD’s price is down $-0.63 (-0.23%) from the hour prior. HD has seen its price go down 4 out of the past 5 hours, thus creating some compelling opportunities for bears. As for the trend on the hourly timeframe, we see the clearest trend on the 20 hour timeframe. Most noteworthy in the world of moving averages on the hourly chart is that the 100 and 50 hour moving averages have been crossed, with price now being above them. The moving averages on the hourly timeframe suggest a choppiness in price, as the 20, 50 and 100 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 down 0.59% ($1.67) from the open of yesterday, marking the 2nd consecutive day a decline has happened. This move happened on lower volume, as yesterday’s volume was down 7.68% from the day before — and down 40.45% from the same day the week before. The daily price chart of Home Depot Inc below illustrates.


Home Depot Inc Technical Analysis

First things first: Home Depot Inc crossed below its 20 day moving average yesterday. The clearest trend exists on the 90 day timeframe, which shows price moving up over that time. Also of note is that on a 30 day basis price appears to be forming a base — which could the stage for it being a support/resistance level going forward. Or to view things another way, note that out of the past 30 days Home Depot Inc’s price has gone up 16 them.

Overheard Around the Web

Over on StockTwits, here’s an example of what they’re saying about HD:

    $LOW $HD Real estate market is very hot right now. No serious signs of a bubble due to regulations /requirements of mortgages today, + the high demand of homes because exodus of major cities.

    Taking a hit because of retail understandably but this is a good pick in any long portfolio. I can only recommend to buy at these levels. HD and LOW has been filled with people every time ive gone lately. I've had to wait in line 15 mins the other day