HD Looking Bearish headed into earning
HD tends to sell off coming into earning, so it's not surprise that HD is looking more bearish than bullish with earning in a couple weeks. A close below the 122.01 support look for the retest for possible bearish entry. !22.01 is a strong support on the weekly, but then AGAIN SO WAS 123.50 (NECK LINE ON a triple top on the weekly). Yesterdays bullish candle looks like the retest of that neckline. If you look back to the pink arrows are areas that HD broke down very aggressively, right around the 126 range. My plan is if HD gaps up anywhere under 122.86 I will look for a reversal to the LOD prior day and look for a trade to TGT. IF HD gaps down wait for a retest where the arrow is.
However one candle could make this a decent buying area.
However one candle could make this a decent buying area.
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