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The Home Depot Inc., Technical Analysis

8/9/2022 12:01 PM

The shares of The Home Depot Inc., a US home improvement company, are gaining in value, currently trading at 311.90.

On the daily chart of the asset, the upward movement of quotations continues, which could go into the active phase, having consolidated above the initial Fibonacci correction around 301.50.

The four-hour chart shows that if further dynamics develop in an uptrend, the trading instrument may start testing the next resistance — the 38.2% Fibonacci base correction around 323.30 this week.

Technical indicators keep a stable buy signal: indicator Alligator's EMA oscillation range expands upwards, and the histogram of the AO oscillator is forming rising bars in the buying zone.

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