Solid News

The shares of The Home Depot Inc., the world's largest home improvement company, have continued to rise since the middle of last month.

During this time, the price reversed around 265.62 ([1/8]) and rose to the central level of Murrey's trading range of 312.50 ([4/8]), which is now being actively tested. The consolidation of the quotes above it will give the prospect of further growth to 328.12 ([5/8]) and 343.75 ([6/8]). If the lower border of the central Murrey channel 296.88 ([3/8]) is broken down, the quotes will be able to fall to the pivot level 281.25 ([2/8]).

Technical indicators point to the continuation of the upward trend: Bollinger bands and Stochastic are directed upwards, while the MACD histogram is increasing in the positive zone. The exit of the price chart beyond the upper Bollinger band does not exclude a corrective decline, but its potential is insignificant.

Resistance levels: 312.50, 328.12, 343.75. | Support levels: 296.88, 281.25.