Sell signal · first bounce in 8 weeks
Home Depot bounces 2.8% after 8 weeks of losses as its 90-week low holds
Our view last week
Home Depot loses another 3.5% and, in its 8th straight weekly decline, sets a new 90-week low in the 277 area, confirmed by the weekly close. A week ago the stock had closed near the week's low; this time it finishes a little higher in its range, while the daily RSI drops to 26, into oversold territory. Technical analysis of Home Depot stock still points down among US stocks: ADX rising, money flow in distribution and the short now 11.9% in profit.
This week's summary
Home Depot bounces 2.8%, its first up week after 8 straight declines: the 90-week low in the 277 area, set a week ago, has held. Technical analysis of Home Depot stock reads it as a breather inside a decline that is still standing: the recovery stalled below the 20-day moving average, money flow stays negative and the ADX keeps rising. Among US stocks, the price action has yet to show a turn, and the short is 9.4% in profit.
IQS Phase
85
in tension / maturity
Signal Strength
20
decline losing steam
Sizing
MINIMUM
Ranking
#73 / 174
US stocks
Trade P&L %
+9.44%
from signal to date, no stop loss
Home Depot (HD) weekly chart — EMA50 · MACD · VWAP
Weekly chart · EMA50 · MACD · VWAP · Source: TradingView
Rank position
ranks 73rd among the 174 sell signals for US stocks in our ranking, with a signal strength of 20 out of 100.
Sector context
SectorConsumer Discretionary
Benchmark ETFXLY
Sector regimein positive regime
Performanceweekly +2.55% · monthly +0.35%
HD belongs to the consumer discretionary sector (reference ETF XLY). The sector is classified in positive regime according to our weekly reading.
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