Home Depot may fall to 308.00 - 316.00

Our pivot point is at 363.

Our preference

The downside prevails as long as 363 is resistance.

Alternative scenario

The upside breakout of 363 would call for 378 and 387.

Comment

The RSI is below 50. The MACD is negative and below its signal line. The configuration is negative. Moreover, the stock is trading under both its 20 and 50 day moving average (respectively at 357.6535 and 348.0274).

Supports and resistances

387 **

378 *

363 **

357

345.81 (USD-last)

325

316 **

308 *

299 **

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