Home Depot is neutral

Our pivot point stands at 338.

Our preference

Look for a drop towards 338 before a bounce.

Alternative scenario

The downside breakout of 338 would call for 324 and 315.

Comment

The RSI is above its neutrality area at 50. The MACD is negative and below its signal line. The penetration of 50 on the RSI should trigger further losses. Moreover, the stock is trading under its 20 day moving average (355.8895) but above its 50 day moving average (348.8844).

Supports and resistances

404 **

395 *

386 **

377

355.66 (USD-last)

344

338 **

324 *

315 **

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