Home Depot to continue the growth trend
Horizon: 1-2 months
Target: $350
Technical analysis
The current correction reached more than 90% of the previous movement. Such values are standard within the uptrend and mark its continuation.
Fundamental factor
The Home Depot is an American retailer that is the world's largest retailer of repair tools and building materials. The U.S. Consumer Confidence Index averaged 103.2 points in August compared to 95.7 points in July. This indicates a shift in consumer sentiment toward secondary consumption (including repairs and construction), which may have a positive effect on the company and sales.
Target: $350
Technical analysis
The current correction reached more than 90% of the previous movement. Such values are standard within the uptrend and mark its continuation.
Fundamental factor
The Home Depot is an American retailer that is the world's largest retailer of repair tools and building materials. The U.S. Consumer Confidence Index averaged 103.2 points in August compared to 95.7 points in July. This indicates a shift in consumer sentiment toward secondary consumption (including repairs and construction), which may have a positive effect on the company and sales.
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