Home Depot may rise to 431.00 - 437.00

Our pivot point stands at 391.

Our preference

The upside prevails as long as 391 is support.

Alternative scenario

Below 391, expect 381 and 375.

Comment

The RSI is above 70. It could mean either that the stock is in a lasting uptrend or just overbought and therefore bound to correct (look for bearish divergence in this case). The MACD is positive and above its signal line. The configuration is positive. Moreover, the stock is above its 20 and 50 day moving average (respectively at 391.0995 and 373.092).

Supports and resistances

444 **

437 *

431 **

425

408.36 (USD-last)

395

391 **

381 *

375 **

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