Home Depot Trade: Swing Trade and Day Trade.
Home Depot is trading 185.36 pre-market down 2.43% on earnings guidance.
The News Story Link:
Home Depot Misses Q4 Earnings on Interline Charge; Sees Softer 2019 Profit #swingtrading $HD #earnings https://www.thestreet.com/investing/earnings/home-depot-misses-q4-earnings-on-interline-charge-sees-softer-2019-profit-14877506
How to Trade It:
Key Support 174.30 area trading 185’s in premarket so 174’s is quite a ways down, however, I think it is possible.
Key Resistance 191.00 area. Anything under 191 seems short bias to 174 s.
Watch the 182 s on way down (trading box support) and the 200 MA on the 4 hour.
On the day trade side of things, use the horizontal support and resistance levels on the chart for the trade. I will alert as I trade it also.