Monday, July 24, 2017 10:59:34 AM
Shares of Home Depot (HD) have been falling sharply in the last month. After topping out around $160.00, the stock is trading below $147.00. Part of the issue is that Amazon (AMZN) is encroaching on their business. After chatting with institutional investors, and analyzing it myself, it appears there is a strong buy trade level approaching. The level is found by connecting the pivot highs from October 2016, May 2017 and August 2017. After connecting these pivot highs and drawing a trend line (as seen in the chart below) the trend line expects to $142.25. That will be a major support level. In addition, at this exact level lies the daily 200 moving average. The fact that these two factors converge at this level, gives investors a high reward, low risk buy on Home Depot.
Gareth Soloway
InTheMoneyStocks
Recent HD News
- 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
- Form 4 - Statement of changes in beneficial ownership of securities • Edgar (US Regulatory) • 02/23/2024 09:09:27 PM
- Form 144 - Report of proposed sale of securities • Edgar (US Regulatory) • 02/22/2024 10:05:31 PM
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