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Home Improvement Retail Industry Stocks Technical Analysis - HDArchive
- 5/10/2024 -
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Home Depot (HD) Technical Analysis
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| Summary:
| | Weekly :  | | Daily :
Move cursor over the icon to see details.
| | It was a second positive week after 5 consecutive negative weeks for the Home Depot (HD). During the week, the HD gained 3.58 points, or 1.04%, and closed at 346.43 on Friday, May 10, 2024. HD was trading at average weekly trading volume.
HD is a member of Consumer Discretionary Sector. Consumer Discretionary is the second most oversold sector. Sector/industry rotation is considered a proven strategy to beat the market. Use the following links to find overbought/oversold technical indicators by Sector or by Industry.
 Long-term trend: [See HD long-term trend chart]
A long-term downtrend had started on December 6, 2021 at 420.61 and reached 264.51 on June 22, 2022. HD lost 156.10 points, or 37.11%, in 28 weeks. The chart has formed a Symmetric Triangle chart pattern. The downtrend resistance line (278.10) is broken. Usually a broken resistance is considered to be a long-term bullish signal, but since daily indicators are overbought a short-term pull back is possible. HD may retest the broken resistance line. It is considered to be a support line now. Use the following links to access Trend Support/Resistance Help, or use the Technical Stock Screener to see the list of stocks with broken trend resistance line in a long-term trend.
 Medium-term trend: [See HD medium-term trend chart]
A medium-term downtrend had started on March 21, 2024 at 396.87 and reached 326.90 on April 25, 2024. HD lost 69.97 points, or 17.63%, in 5 weeks. The price is now at the 27.91% retracement level.
 Weekly Technical Indicators: [See HD weekly technical indicators chart]
Weekly Lane's Stochastic is oversold. Use the Technical Stock Screener to see the list of stocks with weekly oversold Lane's Stochastic. Oscillators are designed to signal a possible trend reversal. They can act as alerts and should be taken in conjunction with other technical analysis tools. Oscillators can be used to confirm other technical signals. Use the following link to access Lane's Stochastic help.
The weekly MACD line is below its signal line since April 5, 2024. This is an indication that the medium-term trend is down. The distance between MACD and the signal line is near its high, but getting smaller. It indicates that the current medium-term downtrend is still strong, and momentum is beginning to wane. Use the following link to access a MACD help.
 Short-term trend: [See HD short-term trend chart]
A short-term uptrend had started on April 25, 2024 at 326.90 and reached 349.81 on May 10, 2024. HD gained -22.91 points, or -7.01%, in 15 days. The price is now at the 14.75% retracement level.
 Daily Technical Indicators: [See HD daily technical indicators chart]
Daily Williams' Percentage Range is overbought. Use the Technical Stock Screener to see the list of stocks with overbought daily Williams' Percentage Range. Use the following link to access Williams' Percentage Range help.
The daily MACD line is above its signal line since April 29, 2024. This is an indication that the short-term trend is up.
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| Daily Oscillators |
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| Weekly Oscillators |
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| Trading
Signals |
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| Sector and
Industry |
| Description |
Name |
Rank |
| Sector |
Consumer Discretionary |
2 |
| Industry |
Home Improvement Retail |
24 |
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| Daily Trend |
| Description |
Value |
| Direction |
Up |
| Chart Pattern |
Uptrend |
| Low |
326.90 |
| Low Date |
04/25/2024 |
| High |
349.81 |
| High Date |
05/10/2024 |
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| Weekly Trend |
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| Description |
Value |
| Direction |
Down |
| Chart Pattern |
DownTrend |
| Status |
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| Resistance |
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| Support |
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| High |
396.87 |
| High Date |
03/21/2024 |
| Low |
326.90 |
| Low Date |
04/25/2024 |
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| Description |
Value |
| Direction |
Up |
| Chart Pattern |
Uptrend |
| Status |
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| Resistance |
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| Support |
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| Low |
274.26 |
| Low Date |
10/27/2023 |
| High |
396.87 |
| High Date |
03/21/2024 |
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| Quarterly Trend |
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| Description |
Value |
| Direction |
Up |
| Chart Pattern |
Uptrend |
| Status |
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| Resistance |
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| Support |
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| Low |
264.51 |
| Low Date |
06/22/2022 |
| High |
396.87 |
| High Date |
03/21/2024 |
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| Description |
Value |
| Direction |
Down |
| Chart Pattern |
Symmetric Triangle |
| Status |
Broken Resistance |
| Resistance |
246.49 |
| Support |
278.10 |
| High |
420.61 |
| High Date |
12/06/2021 |
| Low |
264.51 |
| Low Date |
06/22/2022 |
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