Stocks

Home Depot may fall to 300.00 - 306.00

2024-05-26

Our pivot point stands at 336.

Our preference

The downside prevails as long as 336 is resistance.

Alternative scenario

The upside breakout of 336 would call for 346 and 352.

Comment

The RSI is below 50. The MACD is negative and below its signal line. The configuration is negative. Moreover, the share stands below its 20 and 50 day moving average (respectively at 338.5335 and 350.3564). Finally, Home Depot has penetrated its lower daily Bollinger band (325.55).

Supports and resistances

352 **

346 *

336 **

331

325.1 (USD-last)

312

306 **

300 *

294 **

Number of asterisks represents the strength of support and resistance levels.

This is not investment advice. Past performance does not represent future performance. Your funds are at risk, please trade with caution and responsibility.


Author:

Paul Reid
Tradingtop

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