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Watch for Home Depot Inc to Potentially Rebound After Falling 2.07% Yesterday

By Shiri Gupta

Home Depot Inc (NYSE:HD) traded in a range yesterday that spanned from a low of $171.30 to a high of $174.15. Yesterday, the shares fell 2.1%, which took the trading range below the 3-day low of $174.55 on volume of 1.5 million shares. Often times after large one-day declines, short-term traders may play for some degree of mean reversion.

In the past 52 weeks, shares of Home Depot Inc have traded between a low of $167.00 and a high of $215.43 and are now at $171.68, which is 3% above that low price. In the last five trading sessions, the 50-day moving average (MA) has fallen 1% while the 200-day MA has remained constant.

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: rebounders home depot inc

Ticker(s): HD