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

By Nick Russo

Home Depot (NYSE:HD) traded today at a new 52-week high of $160.86. Approximately 2.4 million shares have changed hands today, as compared to an average 30-day volume of 3.8 million shares.

Home Depot (NYSE:HD) defies analysts with a current price ($160.15) 2.6% above its average consensus 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.

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.

In the past 52 weeks, Home Depot share prices have been bracketed by a low of $92.17 and a high of $160.86 and are now at $160.15, 74% above that low price. Over the past week, the 200-day moving average (MA) has gone up 0.3% while the 50-day MA has advanced 0.7%.

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 22.6%. 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