The Home Depot Inc. (HD/NYSE): general review
18 January 2019, 13:36
| Scenario | |
|---|---|
| Timeframe | Intraday |
| Recommendation | BUY STOP |
| Entry Point | 177.55 |
| Take Profit | 183.00, 187.00, 192.00 |
| Stop Loss | 172.10, 172.00 |
| Key Levels | 158.00, 167.50, 172.00, 177.50, 183.00, 188.00 |
| Alternative scenario | |
|---|---|
| Recommendation | SELL STOP |
| Entry Point | 171.95 |
| Take Profit | 163.00, 158.00 |
| Stop Loss | 177.00 |
| Key Levels | 158.00, 167.50, 172.00, 177.50, 183.00, 188.00 |
Current trend
Shares of The Home Depot added more than 10.5% in value from the December 52-week low, having updated the monthly minimum of 10 January. The fall in stocks from the September 52-week high exceeded 18%. On January 17, JPMorgan Chase lowered the recommendation on the company's shares, which pressured the emitter's quotes.
During the previous week, the stock of The Home Depot dropped by 2.34%. S&P500 index went up by 1.54% during the same period.
Support and resistance
The emitter continues to trade in the flat market. The technical picture is uncertain. Currently, key support and resistance levels are at 172.00 and 177.50, respectively. The emitter has the potential to restore.
Indicators don't give a clear signal: the price is between MA(5) and MA(200), and MACD histogram started to decrease. Positions are to be opened from key levels.
Comparing company's multiplier with its competitors, we can say that #HD shares are neutral.
Support levels: 172.00, 167.50, 158.00.
Resistance levels: 177.50, 183.00, 188.00.
Trading tips
If the price consolidates above the resistance level of 177.50, one should expect #HD shares to correct. Potential profits should be locked in by orders at 183.00, 187.00, and 192.00. Stop loss – 172.00.
If the price consolidates below the level of 172.00, one may consider selling the company's stock. The moving potential is aimed at the area of 63.00-158.00. Stop loss – 177.00.
Implementation period: 3 days.
Shares of The Home Depot added more than 10.5% in value from the December 52-week low, having updated the monthly minimum of 10 January. The fall in stocks from the September 52-week high exceeded 18%. On January 17, JPMorgan Chase lowered the recommendation on the company's shares, which pressured the emitter's quotes.
During the previous week, the stock of The Home Depot dropped by 2.34%. S&P500 index went up by 1.54% during the same period.
Support and resistance
The emitter continues to trade in the flat market. The technical picture is uncertain. Currently, key support and resistance levels are at 172.00 and 177.50, respectively. The emitter has the potential to restore.
Indicators don't give a clear signal: the price is between MA(5) and MA(200), and MACD histogram started to decrease. Positions are to be opened from key levels.
Comparing company's multiplier with its competitors, we can say that #HD shares are neutral.
Support levels: 172.00, 167.50, 158.00.
Resistance levels: 177.50, 183.00, 188.00.
Trading tips
If the price consolidates above the resistance level of 177.50, one should expect #HD shares to correct. Potential profits should be locked in by orders at 183.00, 187.00, and 192.00. Stop loss – 172.00.
If the price consolidates below the level of 172.00, one may consider selling the company's stock. The moving potential is aimed at the area of 63.00-158.00. Stop loss – 177.00.
Implementation period: 3 days.
No comments:
Write comments