Every evening I scan hundreds of charts. I believe all good investors and traders do the same. The more you see, the more likely it is you find something worth keeping on your watch list for the next day or so. Tonight I found Home Depot. The stock is into a trend line that connects from the highs of 2015 to the high in May 2016 to its current level. Obviously, this is some resistance on the chart. Earnings are August 16th, 2016, before the stock market opens. I will be watching this closely to see if there is a shorting opportunity in the next day or two.

By Pro-Trader