Trading Home Depot $HD With Integrated Risk Controls
May 20, 2023, 17:00 pm ET, BY Rolland S.- Contributor| Editor: Thomas H. Kee Jr. (Follow on LinkedIn)
Longer Term Trading Plans for HD
- Buy HD slightly over 274.13 target 302.97 stop loss @ 273.34 Details
The technical summary data tells us to buy HD near 274.13 with an upside target of 302.97. This data also tells us to set a stop loss @ 273.34 to protect against excessive loss in case the stock begins to move against the trade. 274.13 is the first level of support below 290.88 , and by rule, any test of support is a buy signal. In this case, support 274.13 would be being tested, so a buy signal would exist.
- Short HD slightly under 302.97, target 274.13, stop loss @ 303.84 Details
The technical summary data is suggesting a short of HD as it gets near 302.97 with a downside target of 274.13. We should have a stop loss in place at 303.84though. 302.97 is the first level of resistance above 290.88, and by rule, any test of resistance is a short signal. In this case, if resistance 302.97 is being tested, so a short signal would exist.
Swing Trading Plans for HD
- Buy HD slightly over 293.77, target 302.97, Stop Loss @ 292.92 Details
If 293.77 begins to break higher, the technical summary data tells us to buy HD just slightly over 293.77, with an upside target of 302.97. The data also tells us to set a stop loss @ 292.92 in case the stock turns against the trade. 293.77 is the first level of resistance above 290.88, and by rule, any break above resistance is a buy signal. In this case, 293.77, 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 293.77, target 287.27, Stop Loss @ 294.62. Details
The technical summary data is suggesting a short of HD if it tests 293.77 with a downside target of 287.27. We should have a stop loss in place at 294.62 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, 293.77, 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 293.77, target 296.38, Stop Loss @ 293.08 Details
If 293.77 begins to break higher, the technical summary data tells us to buy HD just slightly over 293.77, with an upside target of 296.38. The data also tells us to set a stop loss @ 293.08 in case the stock turns against the trade. 293.77 is the first level of resistance above 290.88, and by rule, any break above resistance is a buy signal. In this case, 293.77, 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 293.77, target 290.39, Stop Loss @ 294.46. Details
The technical summary data is suggesting a short of HD if it tests 293.77 with a downside target of 290.39. We should have a stop loss in place at 294.46 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, 293.77, 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 (HD) available here: HD.
HD Ratings for May 20:
| Term → | Near |
Mid |
Long |
|---|
| Rating |
Weak |
Neutral |
Neutral |
| P1 |
0 |
0 |
274.13 |
| P2 |
290.39 |
287.27 |
302.97 |
| P3 |
296.38 |
293.77 |
332.00 |
AI Generated Signals for HD
Blue = Current Price
Red= Resistance
Green = Support
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Fundamental Charts for HD:
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