Home Depot may fall to 372.00 - 378.00

Our pivot point stands at 411.

Our preference

Target 378.

Alternative scenario

The upside breakout of 411 would call for 421 and 427.

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 below its 20 day moving average (409.362) but above its 50 day moving average (386.9416).

Supports and resistances

427 **

421 *

411 **

407

401.85 (USD-last)

384

378 **

372 *

366 **

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