| Scenario | |
|---|---|
| Timeframe | Weekly |
| Recommendation | BUY STOP |
| Entry Point | 358.50 |
| Take Profit | 373.00 |
| Stop Loss | 355.00 |
| Key Levels | 320.00, 349.00, 353.00, 358.50, 360.00, 370.00, 373.00 |
| Alternative scenario | |
|---|---|
| Recommendation | SELL STOP |
| Entry Point | 349.00 |
| Take Profit | 335.50 |
| Stop Loss | 357.00 |
| Key Levels | 320.00, 349.00, 353.00, 358.50, 360.00, 370.00, 373.00 |
The shares of The Home Depot Inc., the largest home improvement company, are holding at 353.00.
On the daily chart, the price is correcting, renewing the high of 350.00.
On the four-hour chart, the growth potential remains high, as the quotes are moving within the Expanding correction pattern 360.00–320.00, and the price may break it upwards. A consolidation above the high of 350.00 will allow the asset to reach the level of 370.00.
Technical indicators have strengthened the buy signal: the EMA oscillation range on the Alligator indicator is expanding upwards, and the AO histogram is forming ascending bars in the positive zone.
Trading tips
Long positions may be opened after the price rises and consolidates above 358.50, with the target at 373.00. Stop loss is around 355.00. Implementation period: 7 days or more.
Short positions may be opened after the price falls and consolidates below 349.00, with the target at 335.50. Stop loss is 357.00.
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