Home Depot [#HD] – Not Just A Mall For DIYers- As of Close 5 January 2017

I’m a longstanding “fan” of Home Depot (#HD)… and not just because it’s a favorite place to while away a Saturday afternoon.

As shown by the long term (quarterly) chart, HD is in a major up trend.  Here at the top, it’s starting to look a bit like a Bull Flag.  One might say that all of this bullish action is deserved after the stock spent almost the entire DECADE from 2000 to 2010 going down.

 

#HD

 

I profiled Home Depot [#HD] here in 2012 market recap video. At that time, the stock was trading around $53 and looked like a good candidate to stalk for a Buy.

It appears the stock is poised to move higher again.

To be clear, I’m not a fan of buying securities that are already extended… or at least appear to be.  However, as a chartist, it’s not my job to question (or god forbid, try to predict) the possible length and strength of a move.

Stock Symbol: HD
Snapshot Date: 1/5/2017
Market Capitalization: $164,556,921,450.00
52 Week High: $ $139.00
52 Week Low: $ $109.62
Current Price: $133.90
Change (relative prev day close) -1.60
% Change (relative to yday close) -1.18%
Current Price % 52wk Range 82.64%
Most Recent Open $134.98
Most Recent High $135.46
Most Recent Low $133.78
Earnings/Share (Most recent) $6.18
PE (Price Earnings Ratio) 21.68
Beta 1.09

 

Monthly

The monthly chart is showing one of my favorite patterns and is, by definition, long-term.  As long as price can stay above the rising trendline, I say look for opportunities to buy.

#HD

 

Weekly

The weekly shows a “fractal” of the monthly… and the quarterly for that matter…

#HD

 

Daily

The daily chart suggests a potential entry if price can push above the downtrend line shown here.

#HD

 

As always, follow your own mind and, above all else, mind your risk.