Current trend

Shares of The Home Depot Inc., the largest home improvement company, are held at 362.07.

From April 2 to April 28, The Home Depot Inc. store chain will offer customers discounts of up to 50.0% on the most popular home goods. This program affects not only the United States: for example, in Mexico, the company invests up to 2.86 million pesos, which is about 172.1 million dollars. The funds will be used to expand the product range, as well as to open 12 more stores in the country, increasing the current portfolio to 150 outlets.

Against the background of the start of sales, Truist Securities experts raised the target price for the emitter's shares to 417.0 dollars from 286.0 dollars earlier, while maintaining the rating at the "buy" level. Analysts decided to revise their rating against the background of the completion of the deal to purchase the distributor of roofing materials SRS Distribution.

The financial report of The Home Depot Inc. will be published on May 14: experts expect revenue growth from 34.8 billion dollars to 36.64 billion dollars and earnings per share (EPS) – from 2.82 dollars in the previous quarter to 3.6 dollars.

Support and resistance

On the D1 chart, the asset is being adjusted within the uptrend and is currently located near the support line at 355.00.

Technical indicators are holding a new sell signal, which may soon change to an upward one: the fast EMAs on the Alligator indicator are now below the signal line, and the AO histogram forms corrective bars while in the sales zone.

Support levels: 355.80, 337.00.

Resistance levels: 372.00, 396.70.

Trading tips

If the local growth of the asset continues and the price consolidates above the resistance level of 372.00, one may open long positions with the target of 396.70 and stop-loss of 365.00. Implementation time: 7 days and more.

If the asset continues to decline and the price consolidates below the support level of 355.80, one can open short positions with the target of 337.00 and stop-loss of 362.00.