Home Depot: clean double bottom, stop already at breakeven
Home Depot slips 4.1% and holds the double bottom, with the stop already at breakeven
Home Depot: clean double bottom, stop already at breakeven
Our view last week
Home Depot is in the 2nd week of an open buy, already up 7.07% since entry. The confirmation week closed higher and suggests strengthening the position: the setup quality indicator is at 70 out of 100, in a maturity tension phase, and signal strength is medium at 66 out of 100. The stock ranks 31st among the 125 buys already running for US stocks.
This week's summary
Home Depot shares fell 4.1% this week, but the decline stopped at a clean double bottom in the 307 area, with an intermediate 4% bounce and daily buyers firmly in control, 83% of volume on the buy side. The open buy is in its third week and still up 2.70% since entry: this week's technical analysis shows a trend losing some shine, but the stop is already at breakeven and the trade's risk is off the table.
IQS Phase
65
ordinary
Signal Strength
66
medium
Sizing
STANDARD
Ranking
#36 / 129
US stocks in progress
Trade P&L %
+2.70%
from signal to today
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