HD Home Depot topped in February as the negative divergence forecasted. HD is a great candidate for an H&S pattern (head and shoulders). Head at 39 and neck line at 35 targets the 31 level. Watch the right shoulder now, then the break of the neckline at 35 and change, then a back kiss back up to touch the 35 from the underside, then a move sideways thru 34-35 to stabilize before reaching the 31 area and perhaps favor the 30-31 channel as the holidays approach.
More simply, price will move sideways to sideways down going forward. If you see the RSI fall below the 50% level, that will tell you that price plans on moving down to test the neck line in short order. This information is for educational and entertainment purposes only. Do not invest based on anything you read or view here or any links connected to this information. Consult your finanical advisor before making any investment decision.
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