Home Depot (HD) Approaches New Downside Target of $34.83
SmarTrend has detected shares of Home Depot (NYSE: HD) have bearishly opened below the pivot of $35.69 today and have reached the first level of support of $35.11.
Should the shares continue to fall, we are monitoring the next support pivots of $34.83 and $33.97. Also, the shares are currently trading below the 50-day moving average of $37.22 and should find support at the 200-day moving average of $34.28.
In the last five trading sessions, the 50-day MA has remained constant while the 200-day MA has risen 0.25%.
In the past 52 weeks, shares of Home Depot have traded between a low of $26.62 and a high of $39.38 and are now at $35.10, which is 32% above that low price.
SmarTrend is monitoring the recent change of momentum in Home Depot. Please refer to our Company Overview for the results of our proprietary technical indicators that have been scanning shares of Home Depot in search of a potential trend change.
Write to Chip Brian at cbrian@mysmartrend.com
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