Home Depot Trend Line Analysis

Shares of Home Depot (HD) inched higher today as the Dow and S&P are advancing. While the bulls have been in full control, Home Depot trend line analysis shows that it is likely topping out in the near-term. In the stock chart below, Home Depot clearly is into a key resistance trend line. In addition, the stock is up nearly a full 100% from the March 2020 lows. When analyzing the possible pull back scenario, Home Depot trend line analysis signals a pull back to $247.50 as target 1 and $210.00 as target 2.

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