Current trend

Shares of The Home Depot Inc., the largest home improvement company, are adjusting at 383.00.

Analysts at Loop Capital investment bank maintained the rating on the emitter's shares at the "Hold" level, raising the target price from 330.0 dollars to 360.0 dollars. The revision of the forecast occurred after the speech of the president of The Home Depot Inc. at the annual Goldman Sachs consumer conference and the completion of the acquisition of SRS Distribution Inc. The head of the company announced a revision of sales estimates for 2025 from ˗1.0% to 2.0%, which may be due to a reduction in interest rates by the US Federal Reserve, which should have a positive impact on consumer demand.

The financial report for the second quarter recorded revenue of 43.18 billion dollars, the highest figure since the fall of 2022, but analysts forecast only 39.16 billion dollars in the third quarter. The record earnings per share (EPS) of 4.67 dollars earlier also far exceeds the forecast for the third quarter of 3.65 dollars.

Support and resistance

On the D1 chart, the asset is adjusting and is currently located just below the resistance line of the ascending channel with the boundaries of 395.00–355.00.

Technical indicators hold a new buy signal, which continues to strengthen: the fast EMAs on the Alligator indicator are above the signal line, and the AO histogram forms corrective bars while being in the buy zone.

Support levels: 378.30, 359.80.

Resistance levels: 387.30, 404.00.

Trading tips

If the asset continues to grow and the price consolidates above the resistance level of 387.30, one may openlong positions with a target of 404.00 and a stop-loss of 378.00. Implementation period: 7 days and more.

If the asset continues to decline and the price consolidates below the support level of 378.30, one can open short positions with a target of 359.80 and a stop-loss of 387.00.