Wednesday, April 12, 2017 2:49:17 PM
I am short Home Depot Inc (NYSE:HD) based on multiple indicators showing an extreme overbought condition. The fact that Home Depot Inc (NYSE:HD) has chopped sideways over the last few months, shows institutional selling as funds and small investors buy. This is a passing off of the hot potato before the fall.
Ultimately, when the trend line below breaks (seen in the chart below), Home Depot $HD will collapse quickly. The downside target I have near-term is $135.00. In addition, investors should be very concerned with the recent jobs data and lack of mortgage loans being taken out. This may show signs of a weakening economy. If that is the case, Home Depot $HD will see the brunt of the slowdown in sales and revenues.
Chart: http://www.inthemoneystocks.com/images/bryan/HD%2004.12.2017.PNG
Gareth Soloway
InTheMoneyStocks
Recent HD News
- Form 8-K - Current report • Edgar (US Regulatory) • 05/09/2024 08:45:12 PM
- The Home Depot to Host First Quarter Earnings Conference Call on May 14 • PR Newswire (US) • 04/30/2024 12:00:00 PM
- The Home Depot Announces 2024 Retool Your School Winners • PR Newswire (US) • 04/12/2024 12:00:00 PM
- The Home Depot Extends Relationship with Google Cloud to Drive Innovation in Interconnected Retail • PR Newswire (US) • 04/11/2024 10:00:00 AM
- THE HOME DEPOT UNVEILS SEASONAL SAVINGS DURING SPRING BLACK FRIDAY EVENT • PR Newswire (US) • 04/02/2024 12:00:00 PM
- The Home Depot Announces Agreement to Acquire SRS Distribution, a Leading Specialty Trade Distributor Across Multiple Verticals; Expands Offering and Capabilities for Pro Customers; Increases Total Addressable Pro Market by Approximately $50 Billion • PR Newswire (US) • 03/28/2024 10:00:00 AM
- The Home Depot to Present at the 10th Annual J.P. Morgan Retail Round-Up Conference • PR Newswire (US) • 03/21/2024 12:00:00 PM
- THE HOME DEPOT EXPANDS PRO ECOSYSTEM WITH FOUR NEW DISTRIBUTION CENTERS DESIGNED TO BRING CONVENIENCE AND RELIABILITY TO PRO CUSTOMERS • PR Newswire (US) • 03/14/2024 12:00:00 PM
- THE HOME DEPOT ANNOUNCES PARTNERSHIP WITH NCAA ®, COMBINING THE FANDOM OF MARCH MADNESS ® WITH THE SATISFACTION OF DIY • PR Newswire (US) • 03/12/2024 12:00:00 PM
- The Home Depot Foundation invests $1 million to train skilled tradespeople to rebuild communities after disasters • PR Newswire (US) • 03/04/2024 01:00:00 PM
- Form 4 - Statement of changes in beneficial ownership of securities • Edgar (US Regulatory) • 02/29/2024 09:11:17 PM
- Form 4 - Statement of changes in beneficial ownership of securities • Edgar (US Regulatory) • 02/26/2024 10:17:08 PM
- Form 4 - Statement of changes in beneficial ownership of securities • Edgar (US Regulatory) • 02/26/2024 10:15:23 PM
- Form 4 - Statement of changes in beneficial ownership of securities • Edgar (US Regulatory) • 02/26/2024 10:13:16 PM
- Form 4 - Statement of changes in beneficial ownership of securities • Edgar (US Regulatory) • 02/26/2024 10:10:59 PM
- Form 4 - Statement of changes in beneficial ownership of securities • Edgar (US Regulatory) • 02/26/2024 10:09:15 PM
- Form 4 - Statement of changes in beneficial ownership of securities • Edgar (US Regulatory) • 02/26/2024 10:07:56 PM
- Form 4 - Statement of changes in beneficial ownership of securities • Edgar (US Regulatory) • 02/26/2024 10:06:33 PM
- Form 4 - Statement of changes in beneficial ownership of securities • Edgar (US Regulatory) • 02/26/2024 10:04:07 PM
- Form 4 - Statement of changes in beneficial ownership of securities • Edgar (US Regulatory) • 02/26/2024 10:02:43 PM
- Form 4 - Statement of changes in beneficial ownership of securities • Edgar (US Regulatory) • 02/26/2024 10:00:13 PM
- Form 4 - Statement of changes in beneficial ownership of securities • Edgar (US Regulatory) • 02/26/2024 09:57:31 PM
- Form 4 - Statement of changes in beneficial ownership of securities • Edgar (US Regulatory) • 02/23/2024 09:14:40 PM
- Form 4 - Statement of changes in beneficial ownership of securities • Edgar (US Regulatory) • 02/23/2024 09:12:31 PM
- Form 4 - Statement of changes in beneficial ownership of securities • Edgar (US Regulatory) • 02/23/2024 09:11:08 PM
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