Jump to content

The Home Depot (HD) Stocks Elliott Wave Technical Analysis


Recommended Posts

Posted (edited)
HD Elliott Wave Analysis Trading Lounge Daily Chart,
The Home Depot,(HD) Daily Chart
HD Elliott Wave Technical Analysis
FUNCTION: Trend
MODE: Impulsive
STRUCTURE: Motive
POSITION: Minor wave 3.  
DIRECTION: Downside in Minor 3.
DETAILS: Looking for downside into minor wave 3, with equality of 3 vs. 1 at 288.  
Stocks24.thumb.png.5e461621e6905b4ffc164915e4c8df55.png
 
HD Elliott Wave Analysis Trading Lounge 4Hr Chart
The Home Depot, (HD) 4Hr Chart
HD Elliott Wave Technical Analysis
FUNCTION: Trend
MODE: Impulsive
STRUCTURE: Motive
POSITION: Wave {i} of 3.  
DIRECTION: Pullback in wave {ii}.
DETAILS: Looking for a pullback in wave {ii} to then look shorts from. Volume diminishing suggests we could be near the end of {i}.
Stocks24(1).thumb.png.84eab3c806e96c3b58d6d1c43dd56c0b.png
 
Welcome to our latest Elliott Wave analysis for The Home Depot (HD) as of May 27, 2024. This analysis provides an in-depth look at HD's price movements using the Elliott Wave Theory, helping traders identify potential opportunities based on current trends and market structure. We will cover insights from both the daily and 4-hour charts to offer a comprehensive perspective on HD's market behavior.
 
 
* HD Elliott Wave Technical Analysis – Daily Chart*
In our Elliott Wave analysis of The Home Depot (HD) on May 27, 2024, we observe an impulsive trend characterized by a motive structure. HD is currently positioned in Minor wave 3, indicating downside movement in Minor 3. The equality of 3 vs. 1 suggests a target at $288. The daily chart shows a bearish trend as we move into Minor wave 3. Traders should watch for price action near this level to confirm the continuation of the downtrend.
 
* HD Elliott Wave Technical Analysis – 4Hr Chart*
On the 4-hour chart, HD is following an impulsive trend within a motive structure, specifically in wave {i} of 3. The current analysis shows that we are looking for a pullback in wave {ii} to then.
 
Technical Analyst Alessio Barretta
Source : Tradinglounge.com get trial here!
 
Edited by tradinglounge
Link to comment

Create an account or sign in to comment

You need to be a member in order to leave a comment

Create an account

Sign up for a new account in our community. It's easy!

Register a new account

Sign in

Already have an account? Sign in here.

Sign In Now
  • image.png

  • Posts

    • I agree this is the perfect time to dca on many token. I see $Floki as the next top meme considering the armies behind it. Also $BGB, $ORDI, $Doge, $Shib, and ADA are among my top watchlist 
    • That's our hopes & I believe WAGMI cos I did also participate in the pre-trade at Bitget. Just get your Exchange's HMSTR address on your app with the memo then input for on-chain withdrawal.
    • The crypto market is buzzing with activity, and both Bitcoin (BTC) and Ethereum (ETH) are making waves. Let’s break down the latest movements in their prices and what’s driving these changes. Bitcoin Price Update Bitcoin's price surge: BTC is now trading at $60,172, marking a 4.21% jump over the past 24 hours. Intraday performance: Bitcoin hit a low of $57,650.11 and a high of $60,656.72 today. ETF inflows: Bitcoin ETF inflows have risen to $263.07 million as of September 14. This influx of capital seems to be supporting BTC’s price surge. Market dominance: Bitcoin’s dominance increased by 0.37%, now standing at 56.56%. Market cap: Bitcoin's overall market capitalization has hit $1.19 trillion, reinforcing its leading position in the crypto world. Ethereum Price Update Ethereum’s rise: ETH price has climbed nearly 3% in the past 24 hours and is currently priced at $2,422, as per Coinpedia markets Intraday range: The second-largest cryptocurrency saw a low of $2,338.14 and a high of $2,462.80. ETF inflows: Ethereum ETFs have also seen positive inflows, with $1.52 million added as of September 14. Market cap: Ethereum’s total market cap now stands at $292.89 billion. Expert Insights: A Shift in Market Behavior? Crypto analyst ALI has shared some interesting data about the market activity of Bitcoin and Ethereum. According to ALI: Capital exiting BTC and ETH: Around $2.6 billion worth of Bitcoin and Ethereum has exited the market in the past week. This may be due to sluggish price action, suggesting that some investors are shifting to other altcoins. A possible altcoin pump: Despite the recent outflows, the total market cap has rebounded to $2 trillion, leading many to believe that a major pump may be on the horizon—not just for Bitcoin, but for altcoins as well. What’s Next for the Crypto Market? It looks like the crypto market could be gearing up for a strong rally. Both Bitcoin and Ethereum are seeing solid price movements, and with ETF inflows rising, investor confidence appears to be high. If the market continues to stabilize above the $2 trillion mark, we could see even more bullish activity in the coming days.  
×
×
  • Create New...
us