Home Depot, the breakeven stop gets taken out
Home Depot slips 1.7% as the breakeven stop is taken out at 334.28
Home Depot, the breakeven stop gets taken out
Our view last week
Home Depot shares gave back 1.3% this week, but the decline stopped at a clean double bottom in the 313 area, with an intermediate 6% bounce. Underneath, though, fatigue signs are piling up: buyers are losing ground and sellers dominated the last bar. The open buy is in its fourth week, up 1.37% since entry, with the stop already at breakeven: our weekly technical analysis calls for careful management from here.
This week's summary
Home Depot shares gave back 1.7% this week, but the decline stopped at a clean double bottom in the 320 area, with an intermediate 7% bounce. Underneath, though, sellers still dominate the last bar and candle bodies keep fading. Price closed below the breakeven stop flagged in last week's card (334.28 area): for anyone following that level the trade is closed. Our weekly technical analysis keeps tracking Home Depot until the signal eventually reverses.
IQS Phase
40
ordinary
Signal Strength
66
medium
Sizing
STANDARD
Ranking
#29 / 124
US stocks in progress
Trade P&L %
-0.39%
from signal to date, no stop loss
Rank position
ranks 29th among the 124 Longs already running for US stocks in our ranking, with a signal strength of 66 out of 100.
Sector context
SectorConsumer Discretionary
Benchmark ETFXLY
Sector regimeweak phase
Performanceweekly -5.22% · monthly -4.92%
HD belongs to the consumer discretionary sector (reference ETF XLY). The sector is classified weak phase according to our weekly reading.
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