Home Depot may rise to 391.00 - 399.00

Our pivot point stands at 348.

Our preference

As long as 348 is support look for 391.

Alternative scenario

The downside breakout of 348 would call for 334 and 325.

Comment

The RSI is above 50. The MACD is below its signal line and positive. The stock could retrace in the short term. Moreover, the stock is above its 20 and 50 day moving average (respectively at 353.8935 and 344.2928).

Supports and resistances

408 **

399 *

391 **

382

363.69 (USD-last)

354

348 **

334 *

325 **

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