Where Doers Get Things Done!!! HOME DEPOT CALLS via /r/wallstreetbets #stocks #wallstreetbets #investing


Where Doers Get Things Done!!! HOME DEPOT CALLS

Hey everyone, I have been playing home depot calls a lot lately and I’m ready to get in them once again. The stock has recently fallen from short term highs of around 340 to support around 300 (seen in image below)

https://www.tradingview.com/x/7BY5rWxZ

The fall was initially started with news circulating about one of their Canadian stores handing out some woke pamphlets on privilege which caused some backlash with customers. This was not a corporate decision and thus I think the drop was unwarranted. Anyways, falling lumber prices prob added to the decline in stock price over the past few days. It’s bounce on the 300 support has formed a double bottom, a bullish technical pattern. In addition, the macd on the 4hr is cycling back to bullish territory and the rsi is just leaving oversold territory meaning there’s room to run if the market cooperates. Finally, there was a break of short term resistance as noted in the chart. I see a short term price target of 340 if markets remain solvent.

Good luck to all!

Positions: HD 5/20 310C

Submitted April 05, 2022 at 04:08AM by davidb12899
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