Resistance

<ul class="list-ic vertical"> 
 <li> <span>1</span> <a>HD stock price rose 6.93% in the previous week and displayed a V-shape recovery.</a> </li> 
 <li> <span>2</span> <a>Home Depot’s stock price defended $80 and formed a bullish reversal pattern.</a> </li> 
 <li> <span>3</span> <a>The third quarter earnings of Home Depot Inc. are scheduled for November 14, 2023.&nbsp;</a> </li> 
</ul> 
<p>HD stock price recovered approximately 8% from the recent swing low and formed a bullish trend reversal pattern. It displayed a V-shape recovery which is quite surprising for its investors.&nbsp;</p> 
<p>Home Depot Inc. stock price took support near $274 and began to recover by forming higher highs for consecutive five sessions. It approaches the 50-day EMA which is acting as an immediate hurdle for the bulls.&nbsp;</p> 
<p>At the beginning of October, HD stock price dropped below the $300.00 support. It triggers the negative sentiment and invites further decline. At the same time, the 50-day EMA negatively intersected the 200-day EMA which added fuel to the downfall.&nbsp;</p> 
<p>At present, HD price is trying to rebound and recover the October losses. However, $300.00 has now turned out to be the resistance level so it will be not easy for bulls to regain the $300.00 mark.&nbsp;</p> 
<p>The price action indicates <a href="https://www.thecoinrepublic.com/2023/10/29/hd-stock-nyse-hd-delivers-selloff-will-bulls-hold-275/" target="_blank" rel="noreferrer noopener">HD share price</a> might consolidate for some time before deciding the next direction.&nbsp;</p> 
<p>Moreover, the Q3 earnings are scheduled for next week so volatility in the stock price might rise. Therefore, investors need to remain careful in the coming week.&nbsp;</p> 
<h2 class="wp-block-heading" id="strong-will-hd-stock-price-regain-the-300-mark-strong"><strong>Will HD Stock Price Regain the $300 Mark?</strong></h2> 
<div class="wp-block-image"> 
 <figure class="aligncenter">
  <img loading="lazy" decoding="async" width="1600" height="665" src="https://www.thecoinrepublic.com/wp-content/uploads/2023/11/image-79.png" alt="HD Stock Price Showed V-Shape Recovery Ahead of Q3 Earnings" class="wp-image-179625" srcset="https://www.thecoinrepublic.com/wp-content/uploads/2023/11/image-79.png 1600w, https://www.thecoinrepublic.com/wp-content/uploads/2023/11/image-79-300x125.png 300w, https://www.thecoinrepublic.com/wp-content/uploads/2023/11/image-79-1024x426.png 1024w, https://www.thecoinrepublic.com/wp-content/uploads/2023/11/image-79-768x319.png 768w, https://www.thecoinrepublic.com/wp-content/uploads/2023/11/image-79-1536x638.png 1536w, https://www.thecoinrepublic.com/wp-content/uploads/2023/11/image-79-750x312.png 750w, https://www.thecoinrepublic.com/wp-content/uploads/2023/11/image-79-1140x474.png 1140w" sizes="(max-width: 1600px) 100vw, 1600px">
  <figcaption class="wp-element-caption">
   Source: <a href="https://www.tradingview.com/x/sBi5IZhd/">NYSE: HD</a> daily chart by Tradingview
  </figcaption>
 </figure>
</div> 
<p>HD stock price is in a recovery mode and bulls look more aggressive as compared to bears. The recent upmove looks powerful so buyers will try their best to hold the recent gains.&nbsp;</p> 
<p>Home Depot Inc. is expected to release the third quarter earnings on November 14, 2023.&nbsp;</p> 
<p>Market analysts estimated an EPS of $3.784 and revenue of $37.742 Billion. By analyzing the historical earnings events, we can say that the company is likely to beat the estimates.&nbsp;</p> 
<p>However, the question is whether the <a href="https://www.thecoinrepublic.com/2023/10/29/hd-stock-nyse-hd-delivers-selloff-will-bulls-hold-275/" target="_blank" rel="noreferrer noopener">stock price</a> will react positively or negatively. The analysis suggests profit booking may be visible after the results so the stock price might revert down.&nbsp;</p> 
<h3 class="wp-block-heading" id="strong-will-home-depot-stock-price-consolidate-strong"><strong>Will Home Depot Stock Price Consolidate?&nbsp;</strong></h3>  
<div class="tradingview-widget-container"> 
 <div id="tradingview_ed4dd"></div> 
 <div class="tradingview-widget-copyright">
  <a href="https://www.tradingview.com/" rel="noopener nofollow" target="_blank"><span class="blue-text">Track all markets on TradingView</span></a>
 </div> 
 <script type="text/javascript" src="https://s3.tradingview.com/tv.js"></script> 
 <script type="text/javascript">
  new TradingView.widget(
  {
  "width": "950",
  "height": "500",
  "symbol": "NYSE:HD",
  "interval": "D",
  "timezone": "Etc/UTC",
  "theme": "light",
  "style": "1",
  "locale": "en",
  "enable_publishing": true,
  "allow_symbol_change": true,
  "studies": [
    "STD;RSI",
    "STD;Supertrend"
  ],
  "container_id": "tradingview_ed4dd"
}
  );
  </script> 
</div>  
<p>Home Depot’s stock price formed a bullish engulfing candle on the weekly time frame chart. The next direction of the stock is expected to be visible after earnings. Till then price might spend time into the narrow range consolidation.&nbsp;</p> 
<p>The MACD curve slopes upward and histogram bar is on rise. It indicates strength in the recent up move. The supertrend also turned bullish indicating more upside is pending. The RSI at 52 near to neutral territory denoting consolidation is possible.</p> 
<h4 class="wp-block-heading"><strong>Conclusion</strong></h4> 
<p>HD stock price showed a V-shape recovery from the recent swing low and formed a bullish reversal pattern. The Q3 earnings are scheduled for next week so volatility in the stock may rise.&nbsp;</p> 
<p>The analysis suggests profit booking in the Home Depot stock price may be visible after earnings.&nbsp;</p> 
<h4 class="wp-block-heading"><strong>Technical levels</strong></h4> 
<ul> 
 <li>Resistance levels: $305.96 and $320.25</li> 
 <li>Support levels: $280.00 and $274.00</li> 
</ul> 
<h5 class="wp-block-heading"><strong>Disclaimer</strong></h5> 
<p>The views and opinions stated by the author, or any people named in this article, are for informational purposes only. They do not establish financial, investment, or other advice. Investing in or trading crypto assets comes with a risk of financial loss.</p>

HD Stock Price Showed V-Shape Recovery Ahead of Q3 Earnings

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