Home Depot may rise to 399.00 - 408.00

Our pivot point stands at 342.

Our preference

As long as 342 is support look for 399.

Alternative scenario

Below 342, expect 327 and 319.

Comment

The RSI is above its neutrality area at 50. The MACD is positive and below its signal line. The stock could retrace in the short term. Moreover, the stock is above its 20 and 50 day moving average (respectively at 356.8 and 345.187).

Supports and resistances

418 **

408 *

399 **

390

358.58 (USD-last)

348

342 **

327 *

319 **

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