Today’s swing trade stock chart of the day is HD (Home Depot). In the Trade Report we have been watching residential real estate stocks for a few weeks now and of course, building material and home improvement stocks move in line with real estate.
Home Depot broke out on strong volume in mid February and has now pulled back to the 50 dma. An entry here in the $112-114 range provides great reward to risk if stop is placed under the moving average with a target at the range high $118 or even a breakout to new highs.
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