Wednesday, April 26, 2017 2:53:29 PM
New all-time highs seem almost normal in this market. Countless stocks hit new-all time highs almost every day. This is exactly what has happened with Home Depot Inc (NYSE:HD). Yesterday, Home Depot surged to a all-time high of $154.65. The difference however, was that the stock reversed those gains and closed near the lows of the day. This formed a stock chart candle called a topping tail. topping tails that occur at 52 week or all-time highs are extremely bearish indicators. Technical investors and traders use this signal as a shorting trigger.
The way investors should trade this is simple. Short Home Depot Inc with a downside target of $139.25. However, if the stock every closes above the high of the topping tail of $154.65, stop out immediately. This gives investors tiny risk of less than $1.00 while rewarding investors with possible downside of $15.00. That is a fantastic risk to reward setup.
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
Avant Technologies Equipping AI-Managed Data Center with High Performance Computing Systems • AVAI • May 10, 2024 8:00 AM
VAYK Discloses Strategic Conversation on Potential Acquisition of $4 Million Home Service Business • VAYK • May 9, 2024 9:00 AM
Bantec's Howco Awarded $4.19 Million Dollar U.S. Department of Defense Contract • BANT • May 8, 2024 10:00 AM
Element79 Gold Corp Successfully Closes Maverick Springs Option Agreement • ELEM • May 8, 2024 9:05 AM
Kona Gold Beverages, Inc. Achieves April Revenues Exceeding $586,000 • KGKG • May 8, 2024 8:30 AM
Epazz plans to spin off Galaxy Batteries Inc. • EPAZ • May 8, 2024 7:05 AM