Market

HD: Double bottom? for NYSE:HD by VantageMarkets

Home Depot Inc

Intraday – We look to Buy at 285.03 (stop at 271.38)

Buying pressure from 265.00 resulted in prices rejecting the dip. Posted a Double Bottom formation. The reaction higher is positive and highlights a clear reversal. A weaker opening is expected to challenge bullish resolve. Dip buying offers good risk/reward.

Our profit targets will be 328.98 and 340.00

Resistance: 300.00 / 330.00 / 418.00

Support: 285.00 / 265.00 / 150.

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