Economies.com provides the latest technical analysis and forecast of the american stocks, in order to keep track of the trend of the US stocks.
Home Depot’s stock price (HD) fell in the intraday levels, amid the dominance of the downward correctional trend in the short term, with negative pressure from the 50-day SMA, while the RSI reached overbought levels compared to the stock’s movements, hinting at negative divergence.
Therefore we expect more losses for the stock, targeting the support of $321.20, provided the resistance of $354.40 holds on.
Trend forecast: Bearish