Home Depot Inc. Stock Code HD.NYS
Outlook
From a Double Top high at $239.13, price went to a low of $210.60. From this low, price has recovered, breaking above the cloud 2 days ago to confirm the change in trend direction. During the 2 days after price broke above the cloud, the two candles were strong. Conversion and Base lines also had a bullish crossover, confirming the bullish trend. Lagging Span is above price of 26 periods ago and is about to break above the cloud as well. Price is also at the lower end of a gap. If price is able to move above $233, it should move higher to test the previous high of $239.13. MACD has turned bullish with both its lines crossing above the zero line recently. MACD’s momentum is strong and should be able to support a price push higher to $239.13
Strategy
$229.50 Buy
$239.10 Price Target
$221.90 Risk Management Stop
3 weeks Trade Duration
Ball Corp Stock Code BLL.NYS
Outlook
Price broke above the cloud 2 days ago and this could be the start of a new uptrend. Price has also crossed above a previous high at $68, which triggered a Ichimoku reversal in trend. Price has a few days earlier broken above a 5-month downtrend line. Conversion and Base lines also had a bullish crossover a few days before price moved above the cloud. Lagging Span is above price of 26 days ago but has not yet moved above the cloud. During the decline, MACD has been giving divergence warnings against price. While price was moving lower, MACD had failed to move lower but instead moved higher. This is a hint of a possible bottom forming and we have now see price moving above the cloud. MACD has now turned bullish with both its line above the zero line.
Strategy
$69.20 Buy
$74.80 Price Target
$65.80 Risk Management Stop
3 weeks Trade Duration
