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After Yesterday's Rally of 1.34% Shares Could Potentially Pullback

By David Diaz

Home Depot Inc (NYSE:HD) traded in a range yesterday that spanned from a low of $229.08 to a high of $232.24. Yesterday, the shares gained 1.3%, which took the trading range above the 3-day high of $229.31 on volume of 678,000 shares. Often times after large one-day gains, short term traders will seek to take profits and, as such, investors should be cautious.

Over the past year, Home Depot Inc has traded in a range of $158.09 to $235.49 and is now at $232.00, 47% above that low. Over the past week, the 200-day moving average (MA) has gone up 0.5% while the 50-day MA has advanced 0.3%.

SmarTrend is tracking the current trend status for Home Depot Inc and will alert subscribers who have HD in their portfolio or watchlist when shares have changed trend direction.

Keywords: rebounders home depot inc

Ticker(s): HD