The Home Depot, Inc. or HD in the New York Stock Exchange is the largest home improvement retailer in the United States. They sell construction products which consist of mainly building and garden materials. They also provide a number of services like heating and air conditioning installations. Their stores are mostly in the U.S. territories and Canada and some in Puerto Rico, Mexico and China. For 2009, their net income was $2.26 billion.
Technically speaking, the Home Depot’s stock value has recently broken down from its 1-year uptrend during yesterday’s trading session. Now, this is a bad sign for those who are long on this stock since it could now be headed lower and reach the next significant support at $29.44. Once the price slides below the $29.44 price mark, it could fall down to the support at $27.19. Nonetheless, the HD could still move higher although it could now find some resistance at the broken trend line.
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