Home Depot may fall to 299.00 - 306.00

Our pivot point is at 339.

Our preference

The downside prevails as long as 339 is resistance.

Alternative scenario

The upside breakout of 339 would call for 350 and 356.

Comment

The RSI is below its neutrality area at 50. The MACD is below its signal line and negative. The configuration is negative. Moreover, the stock is trading under both its 20 and 50 day moving average (respectively at 336.097 and 343.9662).

Supports and resistances

356 **

350 *

339 **

334

328.26 (USD-last)

312

306 **

299 *

293 **

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