Home Depot may rise to 348.00 - 355.00

Our pivot point stands at 316.

Our preference

Short term rebound towards 348.

Alternative scenario

The downside breakout of 316 would call for 305 and 298.

Comment

The RSI is below its neutrality area at 50. The MACD is above its signal line and negative. The configuration is mixed. Moreover, the stock is trading under both its 20 and 50 day moving average (respectively at 334.1685 and 340.7474).

Supports and resistances

361 **

355 *

348 **

342

327.03 (USD-last)

320

316 **

305 *

298 **

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