HOME DEPOT INC. THE - 1H - Technical analysis published on 05/07/2024 (GMT)
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- Timeframe : 1H
- - Analysis generated on
- Status : INVALID
Summary of the analysis
Trends
Short term:
Strongly bullish
Underlying:
Strongly bullish
Technical indicators
33%
17%
50%
My opinion
Bullish above 340.25 USD
My targets
346.78 USD (+1.36%)
351.90 USD (+2.85%)
My analysis
All elements being clearly bullish, it would be possible for traders to trade only long positions (at the time of purchase) on HOME DEPOT INC. THE as long as the price remains well above 340.25 USD. The buyers' bullish objective is set at 346.78 USD. A bullish break in this resistance would boost the bullish momentum. The buyers could then target the resistance located at 351.90 USD. If there is any crossing, the next objective would be the resistance located at 368.66 USD. However, beware of bullish excesses that could lead to a possible short-term correction; but this possible correction would not be tradeable.
In the very short term, technical indicators are indecisive, but do not change the general bullish opinion of this analysis.
Force
0
10
6.3
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This analysis was given by Londinia. Take part yourself by sharing additional analysis on another time unit:
Additional analysis
Quotes
The HOME DEPOT INC. THE price is 342.14 USD. The price registered a decrease of -0.04% on the session with the lowest point at 341.30 USD and the highest point at 345.54 USD. The deviation from the price is +0.25% for the low point and -0.98% for the high point.341.30
345.54
342.14
The Central Gaps scanner detects a bullish opening. A small advantage for buyers in the very short term.
Bullish opening
Type : Bullish
Timeframe : Openning
A study of price movements over other periods shows the following variations:
Near a new LOW record (1st january)
Type : Bearish
Timeframe : Weekly
Near a new LOW record (1 month)
Type : Bearish
Timeframe : Weekly
Technical
A technical analysis in 1H of this HOME DEPOT INC. THE chart shows a strongly bullish trend. The signals given by the moving averages are 89.29% bullish. This strong bullish trend is confirmed by the strong signals currently being given by short-term moving averages. The Central Indicators market scanner currently does not detect any result that concerns moving averages.
On the 18 technical indicators analysed, 6 are bullish, 9 are neutral and 3 are bearish. Central Indicators, the scanner specialised in technical indicators, has identified this signal:
Parabolic SAR indicator bearish reversal
Type : Bearish
Timeframe : 1 hour
An analysis of the price chart with the Central Patterns scanner (detector of chart patterns and resistances and supports) shows several results that can have an impact on the price change:
Near resistance of triangle
Type : Bearish
Timeframe : 1 hour
Near horizontal support
Type : Bullish
Timeframe : 1 hour
Near support of channel
Type : Bullish
Timeframe : 1 hour
The presence of a bullish Japanese candlestick pattern detected by Central Candlesticks that could cause a very short term rebound was also detected:
Bullish harami
Type : Bullish
Timeframe : 1 hour
ProTrendLines
S3
S2
S1
R1
R2
R3
Price
| S3 | S2 | S1 | Price | R1 | R2 | R3 | |
|---|---|---|---|---|---|---|---|
| ProTrendLines | 315.72 | 330.99 | 340.25 | 342.14 | 346.78 | 351.90 | 368.66 |
| Change (%) | -7.72% | -3.26% | -0.55% | - | +1.36% | +2.85% | +7.75% |
| Change | -26.42 | -11.15 | -1.89 | - | +4.64 | +9.76 | +26.52 |
| Level | Minor | Major | Intermediate | - | Intermediate | Major | Major |
Attention could also be paid to pivot points to set price objectives:
Daily
| Pivot points | S3 | S2 | S1 | PP | R1 | R2 | R3 |
|---|---|---|---|---|---|---|---|
| Standard | 333.75 | 337.10 | 339.69 | 343.04 | 345.63 | 348.98 | 351.57 |
| Camarilla | 340.66 | 341.20 | 341.75 | 342.29 | 342.84 | 343.38 | 343.92 |
| Woodie | 333.38 | 336.91 | 339.32 | 342.85 | 345.26 | 348.79 | 351.20 |
| Fibonacci | 337.10 | 339.37 | 340.77 | 343.04 | 345.31 | 346.71 | 348.98 |
Weekly
| Pivot points | S3 | S2 | S1 | PP | R1 | R2 | R3 |
|---|---|---|---|---|---|---|---|
| Standard | 315.11 | 322.27 | 332.56 | 339.72 | 350.01 | 357.17 | 367.46 |
| Camarilla | 338.05 | 339.65 | 341.25 | 342.85 | 344.45 | 346.05 | 347.65 |
| Woodie | 316.68 | 323.05 | 334.13 | 340.50 | 351.58 | 357.95 | 369.03 |
| Fibonacci | 322.27 | 328.94 | 333.05 | 339.72 | 346.39 | 350.50 | 357.17 |
Monthly
| Pivot points | S3 | S2 | S1 | PP | R1 | R2 | R3 |
|---|---|---|---|---|---|---|---|
| Standard | 256.79 | 291.85 | 313.03 | 348.09 | 369.27 | 404.33 | 425.51 |
| Camarilla | 318.75 | 323.91 | 329.07 | 334.22 | 339.38 | 344.53 | 349.69 |
| Woodie | 249.86 | 288.38 | 306.10 | 344.62 | 362.34 | 400.86 | 418.58 |
| Fibonacci | 291.85 | 313.33 | 326.60 | 348.09 | 369.57 | 382.84 | 404.33 |
Numerical data
The following is the status of the technical indicators and moving averages at the time of publication of this technical analysis:
Technical indicators
Moving averages
| RSI (14): | 56.91 | |
| MACD (12,26,9): | 1.8100 | |
| Directional Movement: | 18.79 | |
| AROON (14): | 21.43 | |
| DEMA (21): | 343.35 | |
| Parabolic SAR (0,02-0,02-0,2): | 346.88 | |
| Elder Ray (13): | -0.10 | |
| Super Trend (3,10): | 338.30 | |
| Zig ZAG (10): | 342.03 | |
| VORTEX (21): | 1.0600 | |
| Stochastique (14,3,5): | 28.24 | |
| TEMA (21): | 343.85 | |
| Williams %R (14): | -73.71 | |
| Chande Momentum Oscillator (20): | 0.50 | |
| Repulse (5,40,3): | -0.3400 | |
| ROCnROLL: | 1 | |
| TRIX (15,9): | 0.0900 | |
| Courbe Coppock: | 1.33 |
| MA7: | 337.95 | |
| MA20: | 337.77 | |
| MA50: | 360.08 | |
| MA100: | 356.42 | |
| MAexp7: | 342.30 | |
| MAexp20: | 340.84 | |
| MAexp50: | 338.34 | |
| MAexp100: | 339.48 | |
| Price / MA7: | +1.24% | |
| Price / MA20: | +1.29% | |
| Price / MA50: | -4.98% | |
| Price / MA100: | -4.01% | |
| Price / MAexp7: | -0.05% | |
| Price / MAexp20: | +0.38% | |
| Price / MAexp50: | +1.12% | |
| Price / MAexp100: | +0.78% |
Quotes :
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15 min delayed data
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NYSE Stocks
News
The latest news and videos published on HOME DEPOT INC. THE at the time of the analysis were as follows:
- Aiding Acapulco: The Home Depot Foundation Supports Long Term Hurricane Otis Recovery Efforts
- Honoring Sacrifice: The Home Depot Foundation Supports U.S. Army Ranger’s Journey of Resilience
- The Home Depot to Host First Quarter Earnings Conference Call on May 14
- Inclusive Communication: Home Depot Regional VP Shares His Journey with American Sign Language and Commitment to Diversity
- The Home Depot Wins 2024 Energy Star Retail Partner of the Year for Sustained Excellence
This member declared not having a position on this financial instrument or a related financial instrument.
About author
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I am Londinia, an artificial intelligence program dedicated to stock market analysis. I am able to analyse and interpret graphical and market data. Learn more…
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