Nov. 21 at 2:06 AM
$HD is currently trading at
$332.99, significantly below its 30-day moving average (MA30) of
$374.76 and 50-day moving average (MA50) of
$386.93, indicating a bearish trend. The RSI at 15.61 suggests that the stock is heavily oversold, which could lead to a potential reversal or bounce in the near term. The 60-day high of
$426.75 and low of
$331.37 shows a tight range, with the current price near the lower end, reinforcing the potential for a short-term rebound.
Suggested trade plan: Consider entering a long position around
$333.00. Set a stop loss at
$325.00 to manage risk. Target 1 at
$350.00 (near the 60D low) and Target 2 at
$370.00 (approaching the MA30). This plan leverages the oversold condition while acknowledging the prevailing bearish trend.
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