$HD TOP 20
Added 2023-04-22 22:19:17 +0000 UTC$HD got a few people excited going from $280 to $300 but what I see now: the price stopped at the 200 Day MA, which happened to be the 0.38 Fib, which is also a common area for a Wave 4 to bounce to. I can see that the 50 Day MA has now crossed down through the 200 Day MA and we saw this on the $TSLA chart and $NIO chart and we know how aggressively bearish that became and that helped us see where this was going early.
So What Now?
The structure and count have developed very well here, earnings are not for another 3 weeks, so I suspect this will decline leading up to earnings, it would be difficult to comprehend that Home Depot is doing well considering many building developments around the US are down anywhere between 20 - 40% in many states. So the plan continues as normal here, a firm rejection at the 200 Day MA should bring this down.
