Home Depots stock price (HD) rose in the intraday levels, while recouping some losses, as it vented off oversold saturation in the RSI amid the dominance of the downward correctional wave in the short term.

The stock is hurt by piercing the upward short-term trend line previously, while facing negative pressure from the 50-day SMA.

Therefore we expect the stock to return lower, targeting the first support at $354.38, provided the resistance of $371.14 holds on.

Trend forecast: Likely Bearish