Home Depot a change of trend is possible
Idea: Long
Horizon: 1-2 weeks
Target 1: 303.34
Target 2: 308.57
Target 3: 313.8
Potential of the idea: 60%
Stop order: $286.7
Technical analysis
HD is in a sideways movement, the price made a deviation from the bottom and we got a reaction from buyers. We expect that the price will come to the upper boundary of the sideways movement at least, after that a deviation from above is possible and if the price consolidates above the level of 303, then this will already be a change of trend to an upward one. Where the deal can be held along the trend until reversal.
The RR ratio when reaching Target 1: 1 to 2 After reaching Target 1, we advise moving the stop-loss to breakeven.
You can only enter after confirmation on younger time frames
Horizon: 1-2 weeks
Target 1: 303.34
Target 2: 308.57
Target 3: 313.8
Potential of the idea: 60%
Stop order: $286.7
Technical analysis
HD is in a sideways movement, the price made a deviation from the bottom and we got a reaction from buyers. We expect that the price will come to the upper boundary of the sideways movement at least, after that a deviation from above is possible and if the price consolidates above the level of 303, then this will already be a change of trend to an upward one. Where the deal can be held along the trend until reversal.
The RR ratio when reaching Target 1: 1 to 2 After reaching Target 1, we advise moving the stop-loss to breakeven.
You can only enter after confirmation on younger time frames
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