Home Depot Inc. Stock Code HD.NYS
Outlook
Price broke and closed below the cloud in the previous trading session, changing the chart outlook to bearish. Price was trying to break above the cloud in the past two week but was unsuccessful, adding to the bearish sentiment. Lagging Span is just below the price of 26 days ago and is below the cloud, confirming the bearish trend. MACD has a bearish crossover and is hinting at a bearish price trend ahead. We think price is likely to move lower to the previous price support level at $265.65 in the next 2-3 weeks.
Strategy
$296.00 Sell
$266.00 Price Target
$313.00 Risk Management Stop
3 weeks Trade Duration
