Learn to Evaluate (HD) using the Charts

April 28, 2024, 01:00 am ET, BY Joseph H.- Contributor| Editor: Thomas H. Kee Jr. (Follow on LinkedIn)

Longer Term Trading Plans for HD

• NONE. Details

There is no current Support Plan to trigger a buy of this stock at this time. This usually means that there are no clear support levels at this time, so buying the stock as it falls could be considered catching a falling knife. Buy signals only exist if resistance breaks higher.
This often is a signal that the stock you are watching is weak. Waiting for a turn higher may be more intelligent than trying to catch a falling knife. In any case, new support levels are usually revised to the database at the beginning of the next trading session.

• Short HD slightly under 337.09, target n/a, stop loss @ 338.06 Details

The technical summary data is suggesting a short of HD as it gets near 337.09, but the downside target is not available from the current data. This tells us to hold that position if it is triggered until a new downside target has been established (updates occur at the beginning of every trading session) or until the position has been stopped. The summary data tells us to have a stop loss in place at 338.06. 337.09 is the first level of resistance above 335.09, and by rule, any test of resistance is a short signal. In this case, if resistance 337.09 is being tested, so a short signal would exist.

Swing Trading Plans for HD

• Buy HD slightly over 337.09, target 363.67, Stop Loss @ 336.12 Details

If 337.09 begins to break higher, the technical summary data tells us to buy HD just slightly over 337.09, with an upside target of 363.67. The data also tells us to set a stop loss @ 336.12 in case the stock turns against the trade. 337.09 is the first level of resistance above 335.09, and by rule, any break above resistance is a buy signal. In this case, 337.09, 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 337.09, target 334.24, Stop Loss @ 338.06. Details

The technical summary data is suggesting a short of HD if it tests 337.09 with a downside target of 334.24. We should have a stop loss in place at 338.06 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, 337.09, 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 335.34, target 337.09, Stop Loss @ 334.56 Details

If 335.34 begins to break higher, the technical summary data tells us to buy HD just slightly over 335.34, with an upside target of 337.09. The data also tells us to set a stop loss @ 334.56 in case the stock turns against the trade. 335.34 is the first level of resistance above 335.09, and by rule, any break above resistance is a buy signal. In this case, 335.34, 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 335.34, target 334.24, Stop Loss @ 336.12. Details

The technical summary data is suggesting a short of HD if it tests 335.34 with a downside target of 334.24. We should have a stop loss in place at 336.12 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, 335.34, 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 April 28:

Term →	Near	Mid	Long
Rating	Neutral	Weak	Strong
P1	0	0	337.09
P2	329.86	325.74	363.67
P3	335.34	334.24	390.2

AI Generated Signals for HD

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When #institutionalinvestors make decisions to buy and sell #stocks they normally want to keep it quiet.  However, if we pay close attention we can see what is going on, and make good decisions.. The  Home Depot Inc. (the) (NYSE: HD) report below can help you understand how to do this. The trading plans for HD, are updated in real time for subscribers, but this report is static. If you want an update, or a different report on a different stock, please get one here Unlimited Real Time Reports.