HD - High Tight Flag - 2021-04-29
HD Trade Summary
Performance metrics and trade details for HD breakout.
- About
Home Depot (HD) surged 34% in six weeks before consolidating into a tightening pennant formation over the next two weeks.
The stock broke out of the pennant, but on lackluster volume. A few days later, an ugly gap-down forced an exit, locking in a modest 4% gain.
Conclusion: Breakouts need significant volume to confirm strength at key technical levels.
The momentum was weak, as the stock took too long to gain 30%.
Before Breakout Daily
Intraday Entry
After Breakout
