“The Big 3: FDX, HD, QCOM”
HD expected to hold $300 support and bounce to $315-$320; short-term trade thesis.
Your next choice today is Home Depot. Also, the trend is downward as I see in this chart. So, I want to know how you are handling this stock, which is bullish, so I want to make sure you are happy with your two bullish trades today.
This was bound to happen sooner or later, wasn't it? As you know, Home Depot stock is trending downwards, but before we get into the technical details regarding Home Depot, let me clarify that what I'm looking for in this stock goes beyond what we see on the chart.
What we see in the chart may be very supportive at around the 300 level, and I will explain that shortly. What I'm specifically looking for at Home Depot is a return of the stock to any sector other than the technology sector.