(HD) Investment Analysis and Advice

October 29, 2024, 13:10 pm ET, BY William C.- Contributor| Editor: Thomas H. Kee Jr. (Follow on LinkedIn)

Longer Term Trading Plans for HD

• Buy HD near 384.92 target 413.96 stop loss @ 383.81 Details

The technical summary data tells us to buy HD near 384.92 with an upside target of 413.96. This data also tells us to set a stop loss @ 383.81 to protect against excessive loss in case the stock begins to move against the trade. 384.92 is the first level of support below 396.83 , and by rule, any test of support is a buy signal. In this case, support 384.92 is being tested, a buy signal would exist.

• Short HD slightly under 413.96, target 384.92, stop loss @ 415.16 Details

The technical summary data is suggesting a short of HD as it gets near 413.96 with a downside target of 384.92. We should have a stop loss in place at 415.16though. 413.96 is the first level of resistance above 396.83, and by rule, any test of resistance is a short signal. In this case, if resistance 413.96 is being tested, a short signal would exist.

Swing Trading Plans for HD

• Buy HD slightly over 403.74, target 413.96, Stop Loss @ 402.57 Details

If 403.74 begins to break higher, the technical summary data tells us to buy HD just slightly over 403.74, with an upside target of 413.96. The data also tells us to set a stop loss @ 402.57 in case the stock turns against the trade. 403.74 is the first level of resistance above 396.83, and by rule, any break above resistance is a buy signal. In this case, 403.74, initial resistance, would be breaking higher, so a buy signal would exist. Because this plan is based on a break of resistance, it is referred to as a Long Resistance Plan.

• Short HD slightly near 403.74, target 393.82, Stop Loss @ 404.91. Details

The technical summary data is suggesting a short of HD if it tests 403.74 with a downside target of 393.82. We should have a stop loss in place at 404.91 though in case the stock begins to move against the trade. By rule, any test of resistance is a short signal. In this case, if resistance, 403.74, is being tested a short signal would exist. Because this plan is a short plan based on a test of resistance it is referred to as a Short Resistance Plan.

Day Trading Plans for HD

• Buy HD slightly over 400.55, target 403.74, Stop Loss @ 399.62 Details

If 400.55 begins to break higher, the technical summary data tells us to buy HD just slightly over 400.55, with an upside target of 403.74. The data also tells us to set a stop loss @ 399.62 in case the stock turns against the trade. 400.55 is the first level of resistance above 396.83, and by rule, any break above resistance is a buy signal. In this case, 400.55, initial resistance, would be breaking higher, so a buy signal would exist. Because this plan is based on a break of resistance, it is referred to as a Long Resistance Plan.

• Short HD slightly near 400.55, target 393.82, Stop Loss @ 401.48. Details

The technical summary data is suggesting a short of HD if it tests 400.55 with a downside target of 393.82. We should have a stop loss in place at 401.48 though in case the stock begins to move against the trade. By rule, any test of resistance is a short signal. In this case, if resistance, 400.55, is being tested a short signal would exist. Because this plan is a short plan based on a test of resistance it is referred to as a Short Resistance Plan.

Check the time stamp on this data. Updated AI-Generated Signals for Home Depot Inc. (the) (HD) available here: HD.

HD Ratings for October 29:

Term →	Near	Mid	Long
Rating	Neutral	Neutral	Strong
P1	0	0	355.15
P2	400.55	393.82	384.92
P3	404.31	403.74	413.96

AI Generated Signals for HD

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Prudent Investment Analysis requires observations of the support and resistance levels for Home Depot Inc. (the) (NYSE: HD) too.  These define prudent trading plans.

Warning:

This is a static report, the data below was valid at the time of the publication, but support and resistance levels for HD change over time, so the report should be updated regularly.  Real Time updates are provided to subscribers.  Unlimited Real Time Reports.

Subscribers also receive market analysis, stock correlation tools, macroeconomic observations, timing tools, and protection from market crashes using Evitar Corte.  

Instructions:

The rules that govern the data in this report are the rules of Technical Analysis.  For example, if HD is testing support buy signals surface, and resistance is the target.  Conversely, if resistance is being tested, that is a sign to control risk or short, and support would be the downside target accordingly.  In each case, the trigger point is designed to be both an ideal place to enter a position (avoid trading in the middle of a trading channel), and it acts as a level of risk control too.

Swing Trades, Day Trades, and Longer term Trading Plans:

This data is refined to differentiate trading plans for Day Trading, Swing Trading, and Long Term Investing plans for HD too.  All of these are offered below the Summary Table.