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Bearish Moving Average Cross by Home Depot (HD)

By David Diaz

Home Depot (NYSE:HD) shares have crossed bearishly below their 10-day moving average of $135.46 on a volume of 603K shares. This may provide short-term investors a chance for a short position, as such a crossover often suggests lower prices in the near term.

Over the past year, Home Depot has traded in a range of $92.17 to $137.00 and is now at $135.16, 47% above that low. Over the past week, the 200-day moving average (MA) has gone up 0.3% while the 50-day MA has advanced 0.9%.

SmarTrend recommended that subscribers consider buying shares of Home Depot on February 23rd, 2016 as our proprietary SmarTrend analytics indicated a new Uptrend was in progress when shares hit $125.27. Since that recommendation, shares of Home Depot have risen 8.4%. We continue to monitor HD for any potential shift so investors can protect gains and will alert SmarTrend subscribers immediately.

Keywords: moving crosses Home Depot

Ticker(s): HD