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
- Behr Paint Company Introduces Women in Paint – A Program to Support and Empower Women in the Painting Trades • GlobeNewswire Inc. • 09/18/2024 01:00:00 PM
- Pentaleap Partners with the World's Largest Home Improvement Retailer to Enhance Retail Media Solutions • PR Newswire (US) • 09/03/2024 03:00:00 PM
- Form S-3ASR - Automatic shelf registration statement of securities of well-known seasoned issuers • Edgar (US Regulatory) • 08/27/2024 08:51:01 PM
- The Home Depot to Present at the Goldman Sachs 31st Annual Global Retailing Conference • PR Newswire (US) • 08/21/2024 12:00:00 PM
- Form 4 - Statement of changes in beneficial ownership of securities • Edgar (US Regulatory) • 08/20/2024 08:11:56 PM
- Form 4 - Statement of changes in beneficial ownership of securities • Edgar (US Regulatory) • 08/19/2024 08:21:09 PM
- Form 4 - Statement of changes in beneficial ownership of securities • Edgar (US Regulatory) • 08/19/2024 08:18:29 PM
- Form 144 - Report of proposed sale of securities • Edgar (US Regulatory) • 08/19/2024 08:06:11 PM
- Form 144 - Report of proposed sale of securities • Edgar (US Regulatory) • 08/15/2024 08:24:42 PM
- The Home Depot Declares Second Quarter Dividend of $2.25 • PR Newswire (US) • 08/15/2024 08:15:00 PM
- Form 8-K - Current report • Edgar (US Regulatory) • 08/13/2024 10:07:00 AM
- Home Depot annonce ses résultats du deuxième trimestre et met à jour ses perspectives au sujet de l'exercice 2024 • PR Newswire (Canada) • 08/13/2024 10:00:00 AM
- The Home Depot Announces Second Quarter Fiscal 2024 Results; Updates Fiscal 2024 Guidance • PR Newswire (US) • 08/13/2024 10:00:00 AM
- The Home Depot Announces Second Quarter Fiscal 2024 Results; Updates Fiscal 2024 Guidance • PR Newswire (Canada) • 08/13/2024 10:00:00 AM
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- U.S. Stocks Move Mostly Higher, Largely Offset Monday’s Sell-Off • IH Market News • 08/09/2024 08:44:00 PM
- The Home Depot to Host Second Quarter Earnings Conference Call on August 13 • PR Newswire (US) • 07/30/2024 12:00:00 PM
- The Home Depot Foundation invests $9 million to provide housing for more than 3,400 veterans battling homelessness • PR Newswire (US) • 06/24/2024 12:00:00 PM
- Form 8-K - Current report • Edgar (US Regulatory) • 06/18/2024 09:28:09 PM
- Form 424B2 - Prospectus [Rule 424(b)(2)] • Edgar (US Regulatory) • 06/18/2024 09:25:58 PM
- Form 8-K - Current report • Edgar (US Regulatory) • 06/18/2024 09:25:18 PM
- The Home Depot Completes Acquisition of SRS Distribution • PR Newswire (US) • 06/18/2024 02:30:00 PM
- Form FWP - Filing under Securities Act Rules 163/433 of free writing prospectuses • Edgar (US Regulatory) • 06/17/2024 09:30:22 PM
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