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Tuesday, November 24, 2015 5:20:47 PM
Home Depot (HD) Surges, Most Overbought Dow Stock
* November 24, 2015
Home Depot (HD) is on quite a run since it reported earnings a week ago. As shown below, the stock headed into its earnings report testing support at its 50-day moving average, and it now sits at new highs after experiencing a very nice upside breakout. We’d caution against jumping in until short-term overbought levels are worked off, but in general this is a name that remains in a strong uptrend.
Below is an updated look at our trading range screen for the 30 Dow Jones Industrial Average stocks. For each stock, the dot represents where it is currently trading within its range, while the tail end represents where it was trading one week ago. You can see Home Depot’s (HD) surge into extreme overbought territory very clearly, as it’s the most extended stock in the index right now. Other names just pushing into overbought territory include Apple (AAPL) — welcome back!, Coca-Cola (KO), Nike (NKE), and Procter & Gamble (PG). On the downside, Pfizer (PFE) and UnitedHealth (UNH) are the only two stocks in the index oversold and trending downward.
https://www.bespokepremium.com/think-big-blog/home-depot-hd-surges-most-overbought-dow-stock/
• George.
* November 24, 2015
Home Depot (HD) is on quite a run since it reported earnings a week ago. As shown below, the stock headed into its earnings report testing support at its 50-day moving average, and it now sits at new highs after experiencing a very nice upside breakout. We’d caution against jumping in until short-term overbought levels are worked off, but in general this is a name that remains in a strong uptrend.
Below is an updated look at our trading range screen for the 30 Dow Jones Industrial Average stocks. For each stock, the dot represents where it is currently trading within its range, while the tail end represents where it was trading one week ago. You can see Home Depot’s (HD) surge into extreme overbought territory very clearly, as it’s the most extended stock in the index right now. Other names just pushing into overbought territory include Apple (AAPL) — welcome back!, Coca-Cola (KO), Nike (NKE), and Procter & Gamble (PG). On the downside, Pfizer (PFE) and UnitedHealth (UNH) are the only two stocks in the index oversold and trending downward.
https://www.bespokepremium.com/think-big-blog/home-depot-hd-surges-most-overbought-dow-stock/
• George.
Information posted to this board is not meant to suggest any specific action, but to point out the technical signs that can help our readers make their own specific decisions. Your Due Dilegence is a must!
• gtsourdinis
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