After halting stock buybacks at the start of the pandemic, Home Depot recently resumed them. In the first two quarters of the fiscal year 2021, $6.9 billion was spent on share buyback.
Our Analysis:
As long as the price is below 332.00, follow the recommendations below:
- Time frame: D1
- Recommendation: short position
- Entry point: 320.00
- Take Profit 1: 304.00
- Take Profit 2: 297.00
Alternative scenario:
If the level of 332.00 is broken-down, follow the recommendations below:
- Time frame: D1
- Recommendation: long position
- Entry point: 332.00
- Take Profit 1: 343.00
- Take Profit 2: 350.00
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