Home Depot Swing Trade – Buy Setup 5.14.19
Home Depot Swing Trade 5.14.19
New Home Depot Swing Trade Setup
After a solid decline that's in sync with the rest of the stock market, HD has lined up for a new swing trade long.
The $190 level held as resistance until buyers could push higher. For the current pull-back the stock price has settled in at this level, which happens to also be the 200 simple moving average support!
Double reference points are a good sign to feel confident in your idea. To add even more juice to the trade the SPY ETF also found previous support at $280. So both the stock and the SPY ETF held the bid and have solid profit potential for this swing trade setup.
I'm game planning a profit target @ $198.50 with a stop loss on a close below $189.
Pete
An Unending Trade War Leaves Wall Street Jittery
Investors are dealing with a painful new reality: The trade war between the United States and China could last indefinitely.
That anxiety spread across the stock markets on Monday, as investors around the world tried to divine the potential fallout to economic growth and corporate profits. Bonds and commodities, too, flashed warnings of a slowdown.
The stock losses have brought an end to a recent calm that had settled over Wall Street.
nytimes.com/2019/05/13/stock-markets
Dow futures point to a 100-point gain at the open following Monday’s market rout
U.S. equity futures were in the green in premarket trading Tuesday as investors weighed the impact of the escalating trade war between the United States and China.
As of 6 a.m. ET, Dow Jones Industrial Average futures indicated a positive open of more than 100 points. S&P 500 and Nasdaq futures also pointed to early gains.
