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Home Depot Looks to Continue to Trade Above its Annual-High Share Price Today

By Shiri Gupta

Shares of Home Depot (NYSE:HD) traded at a new 52-week high today of $149.19. This new high was reached on below average trading volume as 497,000 shares traded hands, while the average 30-day volume is approximately 3.8 million shares.

Over the past year, Home Depot has traded in a range of $92.17 to $149.19 and is now at $148.68, 61% above that low. In the last five trading sessions, the 50-day moving average (MA) has climbed 0.7% while the 200-day MA has risen 0.3%.

The Home Depot, Inc. is a home improvement retailer that sells building materials and home improvement products. The Company's sell a wide assortment of building materials, home improvement and lawn and garden products and provide a number of services. Home Depot operates throughout the U.S. (including Puerto Rico, the Virgin Islands and Guam), Canada, China, and Mexico.

There is potential upside of 4.9% for shares of Home Depot based on a current price of $148.68 and an average consensus analyst price target of $155.99. Home Depot shares have support at the 50-day moving average (MA) of $131.75 and additional support at the 200-day MA of $124.66.

SmarTrend recommended that subscribers consider buying shares of Home Depot on November 10th, 2016 as our proprietary SmarTrend analytics indicated a new Uptrend was in progress when shares hit $128.31. Since that recommendation, shares of Home Depot have risen 15.3%. We continue to monitor HD for any potential shift so investors can protect gains and will alert SmarTrend subscribers immediately.

Keywords: 52 week high/lows Home Depot

Ticker(s): HD