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Look for Shares of Home Depot Inc to Potentially Rebound after Yesterday's 2.34% Sell Off

By Nick Russo

Home Depot Inc (NYSE:HD) traded in a range yesterday that spanned from a low of $202.90 to a high of $205.50. Yesterday, the shares fell 2.3%, which took the trading range below the 3-day low of $206.00 on volume of 1.7 million shares. Often times after large one-day declines, short-term traders may play for some degree of mean reversion.

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.

In the past 52 weeks, Home Depot Inc share prices have been bracketed by a low of $158.09 and a high of $219.30 and are now at $202.97, 28% above that low price. Over the past week, the 200-day moving average (MA) has gone up 0.2% while the 50-day MA has advanced 0.5%.

Keywords: rebounders home depot inc

Ticker(s): HD