• Return to Headlines

Possible Bearish Inside Day Candle Pattern Detected for Home Depot Inc (NYSE:HD)

By Amy Schwartz

SmarTrend's candlestick scanner has spotted a possible bearish inside day candle pattern in Home Depot Inc (NYSE:HD) based on the price action in the company's shares. Today's price range of $223.14 and $225.01 is within yesterday's high and low of the day. This trading action often signifies indecision by bulls and bears to drive prices higher or lower and often implies a possible change in trend. Owners of Home Depot Inc may want to consider a possible hedge in the event a pullback occurs. Look for confirmation in the next few trading days.

Based on a current price of $223.19, Home Depot Inc is currently 5.5% above its average consensus analyst price target of $210.98. The stock should find resistance at its 50-day moving average (MA) of $223.24, as well as support at its 200-day MA of $214.72.

In the past 52 weeks, shares of Home Depot Inc have traded between a low of $172.00 and a high of $239.31 and are now at $223.19, which is 30% above that low price. Over the last five market days, the 200-day moving average (MA) has gone up 0.3% while the 50-day MA has declined 0.5%.

The Home Depot, Inc. is a home improvement retailer that sells building materials and home improvement products. The Company sells a wide assortment of building materials, home improvement and lawn and garden products, and provide a number of services. Home Depot operates throughout the United States, Canada, China, and Mexico.

SmarTrend is monitoring the recent change of momentum in Home Depot Inc. Please refer to our Company Overview for the results of our proprietary technical indicators that have been scanning shares of Home Depot Inc in search of a potential trend change.

Keywords: bearish inside day candle home depot inc

Ticker(s): HD