Home Depot $HD is Strong on a Near Term and Midterm basis
Home Depot (NYSE:HD) is Strong on a Near Term and Midterm basis. Check the longer term plans too.
Review the Trading Plans:
Long Term Trading Plans for HD
May 15, 2018, 9:25 am ET
The technical Summary and associated Trading Plans for HD listed below will help you make important timing decisions for your trades. This data is based on our proprietary analysis for HD. In addition we offer Market Timing Models and Stock Filters in the links above which may increase the proficiency of the decisions you make.
HD - (Long) Support Plan
Buy over 168.31 target 190.68 stop loss @ 168.05.
The technical summary data tells us to buy HD near 168.31 with an upside target of 190.68. This data also tells us to set a stop loss @ 168.05 to protect against excessive loss in case the stock begins to move against the trade. 168.31 is the first level of support below 190.33 , and by rule, any test of support is a buy signal. In this case, support 168.31 would be being tested, so a buy signal would exist.
HD - (Short) Resistance Plan
Short under 190.68 target 168.31 stop loss @ 190.94.
The technical summary data is suggesting a short of HD as it gets near 190.68 with a downside target of 168.31. We should have a stop loss in place at 190.94 though. 190.68 is the first level of resistance above 190.33, and by rule, any test of resistance is a short signal. In this case, if resistance 190.68 is being tested, so a short signal would exist.