HD fails to close above 50-day moving average


Home Depot (HD) Technical Analysis Report for Aug 10, 2018 | by Techniquant Editorial Team

Highlights

HD tanks -0.9% closing $1.78 lower
HD breaks below 50-day moving average
HD fails to close above 50-day moving average
HD breaks below previous session low

Overview

HD ended the week 0.34% higher at 196.30 after tanking $1.78 (-0.9%) today. This is the biggest single day loss in over two weeks. Closing below Thursday's low at 198.04, the share confirms its breakout through the prior session's low having traded $2.40 below it intraday.

Daily Candlestick Chart (HD as at Aug 10, 2018):

Daily technical analysis candlestick chart for Home Depot (HD) as at Aug 10, 2018

Friday's trading range was $2.29 (1.16%), that's slightly above last trading month's daily average range of $2.06. Things look different on a weekly scale, where volatility is slightly below the markets average with the monthly volatility being slightly below average.

Prices are trading close to a key support level at 195.11. After spiking up to 197.93 during the day, the stock found resistance at the 50-day moving average at 197.48.

While the market is currently in a short-term down trend, this might just be a correction, as the medium and long term trends are both positive. Home Depot broke below the 50-day moving average at 197.48 today for the first time since August 2nd.

Selling could accelerate should prices move below the close-by swing low at 195.11 where further sell stops might get activated.


Market Conditions for HD as at Aug 10, 2018

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