$HD Short idea

Jun 18, 2020

HD : $10 bounce from ATH

$247 was the the previous ATH before the virus rattled markets. This area should provide a level of support at the moment.

Would like to see a break above 254 to maintain a bullish outlook.

I fear that if the bulls loose control around $240, 230 and below can come quickly.

Also notable to see the SMI flip which although not bearish by itself, combined with the notional that HD was rejected at its ATH, MACD is converging, there is a case to be made to see 243 again.