The Home Depot, Inc. operates as a home improvement retailer. Its stores sell building materials, home improvement products, and lawn and garden products, as well as provide installation, home maintenance, and professional service programs to do-it-yourself, do-it-for-me, and professional customers. The company's installation programs include products, such as carpeting, flooring, cabinets, countertops, and water heaters. It serves homeowners, professional remodelers, general contractors, repairmen, small business owners, and tradesmen. As of September 26, 2013, the company operated 2,258 retail stores in 50 states, the District of Columbia, Puerto Rico, U.S. Virgin Islands, Guam, 10 Canadian provinces, and Mexico. The Home Depot, Inc. was founded in 1978 and is based in Atlanta, Georgia.
To review HD' stock, please take a look at the 1-year chart of HD (The Home Depot, Inc.) below with my added notations:
HD has been trading mostly sideways for the last 5 to 6 months. Over that period of time, the stock has formed a resistance area around $80 (red), In addition, HD has created a strong level of support at $72 (green). At some point the stock will have to break one of those two levels.
The Tale of the Tape: HD has identifiable levels of support and resistance. The possible long positions on the stock would be either on a pullback to $72, or on a breakout above $80. The ideal short opportunities would be on a break below $72.
Please share this article
No comments:
Post a Comment