Home Depot may rise to 387.00 - 396.00

Our pivot point stands at 344.

Our preference

As long as 344 is support look for 387.

Alternative scenario

The downside breakout of 344 would call for 330 and 321.

Comment

The RSI is above 50. The MACD is positive and below its signal line. The stock could retrace in the short term. Moreover, the stock is above its 20 and 50 day moving average (respectively at 351.647 and 343.6136).

Supports and resistances

405 **

396 *

387 **

379

359.51 (USD-last)

349

344 **

330 *

321 **

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