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The Home Depot Inc., Technical Analysis

12/6/2022 10:25 AM

Stocks of Home Depot Inc., the world's largest home improvement company, are correcting at 320.00.

On the daily chart, there is a global sideways trend, within which the price failed to break the August high of 328.00.

On the four-hour chart, it is clear that despite the unsuccessful test of this level, the quotes are close to it, and soon another attempt to reach the global resistance around 355.00 may follow. In case of a decrease, the local target of the asset will be 290.00.

Technical indicators keep a full-fledged buy signal: the range of fluctuations of the EMA on the Alligator indicator expands upwards, and the histogram of the AO oscillator forms multidirectional bars in the buying zone.

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