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After Yesterday's Rally of 1.23% Shares Could Potentially Pullback

By Nick Russo

Home Depot Inc (NYSE:HD) traded in a range yesterday that spanned from a low of $203.80 to a high of $206.77. Yesterday, the shares gained 1.2%, which took the trading range above the 3-day high of $206.67 on volume of 1.1 million shares. Often times after large one-day gains, short term traders will seek to take profits and, as such, investors should be cautious.

In the past 52 weeks, Home Depot Inc share prices have been bracketed by a low of $149.03 and a high of $207.60 and are now at $206.57, 39% above that low price. The 200-day and 50-day moving averages have moved 0.48% higher and 0.06% higher over the past week, respectively.

SmarTrend recommended that subscribers consider buying shares of Home Depot Inc on April 27th, 2018 as our proprietary SmarTrend analytics indicated a new Uptrend was in progress when shares hit $185.45. Since that recommendation, shares of Home Depot Inc have risen 10.1%. We continue to monitor HD for any potential shift so investors can protect gains and will alert SmarTrend subscribers immediately.

Keywords: rebounders home depot inc

Ticker(s): HD