After Yesterday's Rally of 1.35% Shares Could Potentially Pullback
Home Depot (NYSE:HD) traded in a range yesterday that spanned from a low of $129.03 to a high of $131.23. Yesterday, the shares gained 1.3%, which took the trading range above the 3-day high of $130.48 on volume of 2.3 million 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 has traded in a range of $92.17 to $137.82 and is now at $131.15, 42% above that low. Over the last five market days, the 200-day moving average (MA) has gone up 0.3% while the 50-day MA has advanced 0.7%.
SmarTrend is tracking the current trend status for Home Depot and will alert subscribers who have HD in their portfolio or watchlist when shares have changed trend direction.
Keywords: rebounders Home Depot