Apr. 11 at 3:45 AM
$HD 1W — Hit the 5-year ascending channel trendline at
$305.92. Same trendline that caught every major low since the COVID bottom.
Weekly RSI most oversold since 2022. Volume at the low was highest in 2+ years.
One trade in the flow:
$161.9K sweep on the
$360C 5/15. Directional bet — recovery to
$360 in 5 weeks.
Still below white MA (
$355) and red MA (
$366). Both declining overhead.
🔴 Res:
$350 /
$360 sweep target /
$366 red MA
🟢 Sup:
$329 /
$305.92 trendline /
$275 orange band
Trendline holds = recovery to
$350–
$366. Breaks =
$275 next.
5-year support being tested right now. #HD #HomeDepot #hovdid