Home Depot may fall to 301.00 - 307.00

Our pivot point stands at 338.

Our preference

The downside prevails as long as 338 is resistance.

Alternative scenario

Above 338, look for 349 and 355.

Comment

The RSI is below 50. The MACD is negative and below its signal line. The configuration is negative. Moreover, the stock is trading under both its 20 and 50 day moving average (respectively at 337.5735 and 347.5412).

Supports and resistances

355 **

349 *

338 **

334

329.18 (USD-last)

314

307 **

301 *

295 **

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