Home Depot sharpens decline - Analysis - 23-06-2022

Home Depot's stock (HD) kept falling in the intraday levels amid the dominance of the downward correctional trend in the short term, with negative pressure from the 50-day SMA, marking a loss of 0.08% in the last session, or 22 cents, and settling at 268.98, with positive signals from the RSI after reaching oversold levels.

Therefore we expect the stock to decline and target the support of 246.59, provided the resistance of 279.59 holds on.

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Expected trend for today: Bearish