Home Depot Long Trade on ATH S&P 500
The S&P 500 index is just a notch away from its all-time high record. On Thursday, the index reached 4803 points, with the previous all-time high of 4819 recorded on January 4, 2022. There is no doubt that a new record will be set. This is the right time to pick up strong stocks that could outperform the S&P 500 on a short distance. Home Depot (HD) stocks could be among such stocks. Its prices have added 3.3% to $356 since the beginning of the week and are sending upside signals to climb to $375 per share, where the resistance is located. I am planning to buy at current prices at $350-$357 with a target at $375. The stop-loss will be placed at $344.
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