Home Depot may rise to 377.00 - 384.00

Our pivot point stands at 340.

Our preference

The upside prevails as long as 340 is support.

Alternative scenario

The downside breakout of 340 would call for 328 and 321.

Comment

The RSI is above 50. The MACD is positive and above its signal line. The configuration is positive. Moreover, the stock is trading above both its 20 and 50 day moving average (respectively at 335.4925 and 337.7554).

Supports and resistances

391 **

384 *

377 **

369

353.44 (USD-last)

345

340 **

328 *

321 **

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