Home Depot - Stock Forecast

From an alternative perspective, which has a probability of currently 38%, we see the stock in a superordinate corrective structure. In detail, this means that the bears will pull the price for the stock under $262.08, and the following downward trend would end somewhere around $236. In the short-run, this is certainly not very good for our positions, but on the other hand, in the long-run, we would certainly prefer this scenario, in order to stock up our long-positions at a low price. Accordingly, we have already indicated a relevant entry point and marked it in blue with alt.4. From there, the price for this stock should increase sustainably.

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