Home Depot may fall to 304.00 - 311.00

Our pivot point is at 347.

Our preference

Under pressure below 347.

Alternative scenario

Above 347, look for 359 and 366.

Comment

The RSI is below 50. The MACD is below its signal line and positive. 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 341.2155 and 338.3368).

Supports and resistances

366 **

359 *

347 **

342

334.97 (USD-last)

318

311 **

304 *

297 **

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