Hot Corner Insider Weekly Report - October 4, 2024

October 4, 2024

From the Desk of Steve Strazza @Sstrazza and Alfonso Depablos @AlfCharts

Welcome to the Hot Corner Insider Weekly Report!

As you know, we spend a lot of time tracking insider activity to come up with this universe.

But that’s only half the battle!

Once we identify the names insiders are targeting, we overlay our expert technical analysis to see if the market agrees with their actions.

While we track some of the most powerful and well-informed market participants… we aren’t just going to follow them blindly into their trades.

We want to see that the insider activity is confirmed by the trend before we get involved.

When we can check both boxes, we identify asymmetric risk/reward setups and then jump in and ride these trends higher alongside the smart money.

Let’s get started!

Our only setup of the day is a $409B company that operates as a home improvement retailer, Home Depot $HD:

In June, Rep. Ro Khanna of California revealed purchases worth between $30,000 and $100,000.

HD is just shy of all-time highs and looks ready to break out from a massive 3-year basing pattern.

Bulls want to see the stock take out the 420 level with a decisive upside resolution.