$HD (Home Depot)
ENTRY: 300.40 - 297.50
TP1: 302.67
TP2: 304.67
TP3: 305.26
SL: 292.00
Home Depot ($HD ) is carving out an incredibly clean short-term reversal on the hourly chart. After bleeding down to test its major 52-week support floor near $292.88, the buyers have stepped back in with force. We’ve just printed a massive bullish engulfing candle that completely broke past immediate local resistance, and it looks like the sellers are finally exhausted.
The technical turnaround comes at a highly critical time as investors position themselves ahead of the high-stakes Q1 earnings release scheduled for Tuesday, May 19. The market is closely watching to see if strong demand from Pro contractors and digital ecosystem tool adoption can successfully offset ongoing macro pressures from a sluggish housing market. With the structure flipping back in favor of the bulls and volume perking up on the hourly, a continuation back up to retest the $304 area before the weekend close looks highly probable. Watch the volume closely here and protect your capital into the upcoming earnings volatility!
#HD #Home #TradFi #BullishReversal #BinanceSquare $HD
