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The Home Depot Inc., Technical Analysis

10/25/2022 11:38 AM

Shares of The Home Depot Inc., the world's largest home improvement company, are held at 283.00.

On the daily chart, there is a global downtrend, in which the price again failed to break the year's low of 266.00 and is trying to start growing.

On a four-hour chart, after an unsuccessful attempt to decrease, a reversal Head and shoulders pattern may form, with a Neckline around ​​288.00, after which the upward dynamics may continue to the initial correction of 23.6% Fibonacci around 302.00.

Technical indicators significantly weakened the sell signal: the range of EMA fluctuations on the Alligator indicator narrowed almost completely, and the histogram of the AO oscillator forms rising bars in the sell zone.

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