Home Depot tries to recoup losses - Analysis - 08-03-2021

Home Depot's stock (HD) rose 1.03% in the last session amid negative pressure from the 50-day SMA, while hurt by piercing the upward trend line recently, with the dominance of the downward short-term correctional trend, added to negative signals from the RSI.

Therefore we expect the stock to return lower, targeting the support of 240.00, provided the resistance of 261.40 holds on.

Expected trend for today: Likely Bearish