Home Depot double bottom! signs of reversal today! via /r/wallstreetbets #stocks #wallstreetbets #investing

Home Depot double bottom! signs of reversal today!

Hi everyone, just a quick post about home depot again. I’ve been following it a lot recently because it’s been selling off more than expected. Seen in the chart below, it seems to have double bottomed today on good volume.


In addition to the double bottom, the macd on multiple time frames is cycling back to being bullish (the 2 hr chart is shown). Finally, the rsi is close to being oversold on the hourly chart leaving plenty of room for the stock to run. Overall, I believe this is a solid area for entry and I am hoping to see the stock run towards the 330 area before it stutters. Of course, I can’t predict what will happen with the broader market and geopolitical events so keep in mind anything can change. I wish all the best in their trades this week!

Positions: HD 5/20 315C

Submitted March 29, 2022 at 04:09AM by davidb12899
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