Score 9 (out of 10): HOME DEPOT INC sets up for +8% rally in 3 months

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What’s Going On Here?

Home Depot is an American multinational home improvement retail corporation that sells tools, construction products, appliances, and services. Home Depot is the largest home improvement retailer.

Why Now?

HOME DEPOT INC has triggered a new price range signal. During similar occasions, HOME DEPOT INC shares had a median return of +8%, over the following 3 months – based on 10 historical occasions with 10 of those showing positive returns (100%). This buy signal for HOME DEPOT INC received a high score of 9 (out of 10). This insight was generated on 2022-July-19 with last price of 299.83.

What’s This Company About?

HOME DEPOT INC is in the Retail-Building Products business. Based on the last 2 years’ risk/return profile, this asset is seen as Very Risky. Ticker symbol: HD US.

What’s My Risk / Reward and Time Horizon?

We found 3 months to be the optimal trade horizon, after testing a number of possible alternatives (accuracy of previous returns). Otherwise consider closing out this trade once the target level of 323.71 (+8%) has been reached. Based on HOME DEPOT INC’s recent up and down swings, LongShortBets suggests considering to set a stop loss level for this insight at 290.73 (last price at 299.83), which is equivalent to a -3% decline.

Returns during similar periods:

The chart above shows the previous returns (in %) based on similar setups with the most recent ‘insight’ shown under (1), the second most recent ‘insight’ under (2), etc.

Previous episodes:

7% (October-2021), 0.6% (May-2021), 19.5% (January-2021), 12% (July-2020), 6.4% (February-2019), 13.2% (April-2018), 16.8% (September- 2017), 8.9% (December-2016), 5.1% (October-2016), 0.2% (May-2016).

Historical Chart:

Summary:

NameHOME DEPOT INC
ViewUp
Star (1 to 10)9.0
Target8%
Time3 months
Hit Rate100%

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