Home Depot Is Ready for a Breakthrough
Home Depot (HD) shares are maintaining an upward trajectory, reaching an all-time high of $436 in December 2024. Unlike the peak of $420 in December 2021, this time, prices are consolidating rather than reversing. The overbought technical pressure has eased, creating an attractive buying opportunity. Additionally, a diamond pattern has formed, reinforcing the bullish outlook and suggesting a potential upside of 20–22% from current levels.
The middle line of the ascending channel is acting as the key technical resistance. Once this level is surpassed, the stock could accelerate its rise. A long position at $427–437, with a target of $495–505 (a 15% gain), could be a favourable trade setup. A stop-loss could be placed at $372 to manage downside risk.
Disclaimer:
The comments, insights, and reviews posted in this section are solely the opinions and perspectives of authors and do not represent the views or endorsements of RHC Investments or its administrators, except if explicitly indicated. RHC Investments provides a platform for users to share their thoughts on financial market news, investing strategies, and related topics. However, we do not guarantee the accuracy, completeness, or reliability of any user-generated content.
Investment Risks and Advice:
Please be aware that all investment decisions involve risks, and the information shared on metadoro.com should not be considered as financial advice. Always conduct thorough research, seek professional advice, and exercise caution when making investment decisions.
Moderation and Monitoring:
While we strive to maintain a respectful and informative environment, we cannot endorse or verify the accuracy of all user-generated content. We reserve the right to moderate, edit, or remove any comments or posts that violate our community guidelines, infringe on intellectual property rights, or contain harmful content.
Content Ownership:
By submitting content to metadoro.com, users grant RHC Investments a non-exclusive, royalty-free license to use, display, and distribute the content. Users are responsible for ensuring they have the necessary rights to share the content they post.
Community Guidelines:
To maintain a positive and respectful community, users are expected to adhere to the community guidelines of Metadoro. Any content that is misleading, offensive, or violates applicable laws and regulations will be subject to moderation or removal.
Changes to Disclaimer:
We reserve the right to update, modify, or amend this disclaimer at any time. Users are encouraged to review this disclaimer periodically to stay informed about any changes.
