Home Depot is Up for the 2nd Day in a Row

The Hourly View for Home Depot

  • At the moment, HD’s price is up $0.85 (0.23%) from the hour prior.
  • This move is a reversal from the hour prior, which saw price move down.
  • Regarding the trend, note that the strongest trend exists on the 20 hour timeframe.
  • The moving averages on the hourly timeframe suggest a bullishness in price, as the 20, 50, 100 and 200 are all in a bullish alignment — meaning the shorter durations are above the longer duration averages, implying a sound upward trend.

Home Depot’s hourly price chart is shown below.

HD

The Daily View for Home Depot

  • Currently, HD’s price is up $1.28 (0.34%) from the day prior.
  • The daily chart shows that Home Depot has seen 2 straight up days.
  • Regarding the trend, note that the strongest trend exists on the 100 day timeframe.
  • Price action traders may also wish to note that we see a pin bar candlestick pattern on Home Depot. Given that we see an uptrend on the 20 daily candle timeframe, and that such candlestick patterns often denote reversals, this may be worth noting.
  • The moving averages on the daily timeframe suggest a bullishness in price, as the 20, 50, 100 and 200 are all in a bullish alignment — meaning the shorter durations are above the longer duration averages, implying a sound upward trend.

Below is a daily price chart of Home Depot.

HD

Featured Home Depot Idea From TradingView

Below is a trading comment entitled Home Depot Flagging – Looks Ready to Break Out Big you may find interesting:

Home Depot ($HD) is flagging and looks ready to break out.First target is looking to break above the flag and then to lift that past the next fib level of $375. If we can close above $375, there is room to $420.

CharlestonTrader