Home Depot ends cautiously higher - Analysis - 04-10-2021

Home Depot's stock (HD) rose 0.49% in the last session, settling at 329.86, while hurt by piercing the main upward trend line recently, thus dominated by a downward descending wave, as the stock suffers from negative pressure from the 50-day SMA, coupled with negative signals from the RSI.

Therefore we expect the stock to return lower, targeting the pivotal support of 321.65, provided the resistance of 338.40 holds on.

Expected trend for today: Bearish