Home Depot, second trim window opens
Home Depot stock slips 1% and stays boxed between the 331 and 338 areas
Our view last week
After last week's 7.1% jump, which put Home Depot stock a step from the breakout in the 357 area, the stock gave back 4.7% this week and sellers took control of the last bar. The price is back boxed in between the resistance in the 339 area and the support in the 338.6 area, right as earnings enter the calendar. The buy signal is still in its 8th week, with signal strength at 66 out of 100.
This week's summary
Sellers stayed in charge through the last weekly bar too: Home Depot stock gives back another 1% and stays boxed in the same corridor it has held for two weeks, between the resistance in the 338 area and the support in the 331 area. The buy signal is in its 9th week, with signal strength at 66 out of 100, and our model's second trim window now opens. A weekly technical analysis call for patience: the stock hasn't really attacked its recent highs yet.
IQS Phase
34
ordinary
Signal Strength
66
medium
Sizing
STANDARD
Ranking
#31 / 167
US stocks in progress
Trade P&L %
+0.40%
from signal to date, no stop loss
Rank position
ranks 31st among the 167 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 regimein strong phase
Performanceweekly -0.15% · monthly +3.51%
HD belongs to the consumer discretionary sector (reference ETF XLY). The sector is classified in strong phase according to our weekly reading.
restricted Platinum content