Home Depot may fall to 308.00 - 317.00

Our pivot point is at 368.

Our preference

Under pressure below 368.

Alternative scenario

The upside breakout of 368 would call for 383 and 392.

Comment

The RSI is below its neutrality area at 50. The MACD is positive and below its signal line. The MACD must penetrate its zero line to expect further downside. Moreover, the stock is trading under both its 20 and 50 day moving average (respectively at 359.115 and 346.8474). Finally, Home Depot has penetrated its lower daily Bollinger band (344.6).

Supports and resistances

392 **

383 *

368 **

362

342.4 (USD-last)

325

317 **

308 *

300 **

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