Home Depot In Jeopardy Of Ending Nine-Day Winning Streak
Home Depot Inc (NYSE: HD) shares are trading lower by $0.37 at $134.37 in Monday's session. It has not traded in the red since November 13, when it fell from $123.81 to $120 as it dragged down along with the broad market.
The rally got kick-started on November 17, when it added over $5 following its better-than-expected Q3 report.
In today's session, it found resistance in the same area as it had in the last two sessions. On Wednesday it peaked at $135.24; on Friday at $135.47 (all-time high). It is in between those numbers at $135.32 in today's session.
Since making the high, it found support just ahead of Wednesday's low ($133.55), reaching $133.72 and rebounding into the $134 handle.
Joel Elconin is the co-host of Benzinga;s #PreMarket Prep, a daily trading idea radio show.
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