The Home Depot, Inc. operates as a home improvement retailer. Its
stores sell building materials, home improvement products, and lawn and
garden products, as well as provide installation, home maintenance, and
professional service programs to do-it-yourself, do-it-for-me, and
professional customers. The company's installation programs include
products, such as carpeting, flooring, cabinets, countertops, and water
heaters. It serves homeowners, professional remodelers, general
contractors, repairmen, small business owners, and tradesmen. As of
September 26, 2013, the company operated 2,258 retail stores in 50
states, the District of Columbia, Puerto Rico, U.S. Virgin Islands,
Guam, 10 Canadian provinces, and Mexico. The Home Depot, Inc. was
founded in 1978 and is based in Atlanta, Georgia.
To review HD' stock, please take a look at the 1-year chart of HD (The Home Depot, Inc.) below with my added notations:
HD has been trading mostly sideways for the last 5 to 6 months. Over
that period of time, the stock has formed a resistance area around $80
(red), In addition, HD has created a strong level of support at $72
(green). At some point the stock will have to break one of those two
levels.
The Tale of the Tape: HD has identifiable levels of
support and resistance. The possible long positions on the stock would
be either on a pullback to $72, or on a breakout above $80. The ideal
short opportunities would be on a break below $72.
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