HOME DEPOT Close to start forming the long-term bottom.

Oct 9, 2023

Home Depot (HD) is near the Higher Lows trend-line of the 12-month Triangle pattern. Even though it's already on an excellent buy level, the distinc characteristic of the previous two bottoms has been an inner Higher Lows formation. That was the final Low before rising and never seeing such low levels again.

On top of that, the 1D RSI is remarkably oversold (even touched 20.00 at some point), so we already have a bullish opportunity at hand. Our target is the 0.786 Fibonacci level at 326.50.

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