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HD Elliott Wave technical analysis
Details:
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Expecting acceleration higher into Wave 3 of (3) to confirm the presence of a third-of-a-third wave.
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As long as pullbacks remain corrective three-wave moves, we can anticipate further upside momentum.
HD daily chart analysis
HD Elliott Wave technical analysis
Details:
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Looking for a bottom in Wave {iv}, which could already be in place if the correction unfolded as a complex structure.
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Alternative scenario: The market could still be forming Wave iv of (c) of {iv}, indicating a possibility of further downside before resuming the uptrend.
HD one-hour chart analysis
Summary of HD analysis
The Elliott Wave analysis for The Home Depot (HD) suggests that the stock is currently in an impulsive structure within Wave 3 of (3).
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Daily Chart: We anticipate further upside momentum, provided that corrections remain three-wave pullbacks.
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1-Hour Chart: We are closely monitoring Wave {iv}’s bottom formation. If confirmed, the uptrend may resume soon.
This analysis provides insights into HD’s trend structure based on Elliott Wave Theory, helping traders and investors align their strategies with the stock’s projected movements.