Home Depot may rise to 388.00 - 397.00

Our pivot point stands at 339.

Our preference

Rise towards 388.

Alternative scenario

Below 339, expect 324 and 316.

Comment

The RSI is below 50. The MACD is positive and above its signal line. The break above the 50 area on the RSI would call for further upside. Moreover, the stock is trading above both its 20 and 50 day moving average (respectively at 350.1725 and 342.9868).

Supports and resistances

405 **

397 *

388 **

379

350.31 (USD-last)

344

339 **

324 *

316 **

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