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Downtrend Broken Resist.Archive
- 5/2/2025 -
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Home Depot (HD) Technical Analysis
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| Summary:
| | | Weekly : | | Daily : 
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| | It was a fourth consecutive positive week for the Home Depot (HD). During the week, the HD gained 6.94 points, or 1.94%, and closed at 364.52 on Friday, May 2, 2025. It was the best weekly gain since March 28, 2025. Weekly volume was -12% below average.
 Long-term trend: [See HD long-term trend chart]
A long-term uptrend had started on June 22, 2022 at 264.51 and reached 439.40 on November 26, 2024. HD gained -174.89 points, or -66.12%, in 126 weeks. The chart has formed a Broadening Ascending Wedge chart pattern. The trend support level is at 285.10 and resistance is at 459.29. A Broadening Ascending Wedge pattern is considered to be a reversal formation. It usually appears in a mature trend, characterized by overbought/oversold long-term and short-term indicators, and often generates divergence on long-term indicators. Use the following link to access a Broadening Ascending Wedge chart pattern help, or use a Technical Stock Screener to see the list of stocks with Broadening Ascending Wedge pattern in a long-term trend.
 Medium-term trend: [See HD medium-term trend chart]
A medium-term downtrend had started on November 26, 2024 at 439.40 and reached 326.30 on April 9, 2025. HD lost 113.10 points, or 25.74%, in 19 weeks. The chart has formed a Broadening Descending Wedge chart pattern. The trend support level is at 312.42 and resistance is at 403.52. Use the following link to access a Broadening Descending Wedge chart pattern help, or use a Technical Stock Screener to see the list of stocks with Broadening Descending Wedge pattern in a medium-term trend.
 Weekly Technical Indicators: [See HD weekly technical indicators chart]
Weekly technical indicators are neutral.
The weekly MACD line is below its signal line since December 20, 2024. This is an indication that the medium-term trend is down. Use the following link to access a MACD help.
 Short-term trend: [See HD short-term trend chart]
A short-term downtrend had started on January 27, 2025 at 426.20 and reached 326.30 on April 9, 2025. HD lost 99.90 points, or 23.44%, in 72 days. The chart has formed a Falling Channel chart pattern. The downtrend resistance line (307.57) is broken. Usually a broken resistance is considered to be a long-term bullish signal, but since daily indicators are overbought a short-term pull back is possible. HD may retest the broken resistance line. It is considered to be a support line now. Use the following links to access Trend Support/Resistance Help, or use the Technical Stock Screener to see the list of stocks with broken trend resistance line in a short-term trend.
 Daily Technical Indicators: [See HD daily technical indicators chart]
Daily Williams' Percentage Range is overbought. Use the Technical Stock Screener to see the list of stocks with overbought daily Williams' Percentage Range. Oscillators are designed to signal a possible trend reversal. They can act as alerts and should be taken in conjunction with other technical analysis tools. Oscillators can be used to confirm other technical signals. Use the following link to access Williams' Percentage Range help.
The daily MACD line is above its signal line since April 9, 2025.
During the last week, the price has advanced above the 50 Day Moving Average. While the medium-term trend is down and daily technical indicators are overbought, the 50 Day Moving Average is considered a resistance level. The moving average crossover signals work better when the stock develops a strong trend, but they are ineffective when the stock is in a trading range. Moving average crossover systems can be effective, but should be used in conjunction with trend patterns, momentum indicators, candlesticks and other aspects of technical analysis. Use the following links to access Moving Average Crossover trading technique, or use the Technical Stock Screener to see the list of stocks with the Moving Average close to the price level.
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