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Home Depot marked new highs after a month

Published: October 16th, 2020 - 7.04pm EDT

After a month, The Home Depot, Inc. ($HD) reached new highs again. During this time, the price descended to $262.81, the bottom between the prior all-time high and the actual one. Today The Home Depot, Inc. ($HD) stock closed at $287.66 barely changing a 0.04%; new all-time highs are set at $292.65.

On October 7, Morgan Stanley increased the price target from $295.00 to $300.00 (4.29% over the closing price) with a buy rating. The opinions issued by financial brokerage firms are not a buy or sell advice for small investors, so it is not appropriate to follow them blindly.

Since last March, Home Depot has been drawing an uptrend that so far marked an amazing 106.86%. During this uptrend, the price offered some entry points on the breakouts. Latest pullback was in early September, when price bounced at $262.81. Currently, it moves in a consolidation between its last top ($291.41) and its last bottom ($262.81)

The Home Depot, Inc. operates as a home improvement retailer. It operates The Home Depot stores that sell various building materials, home improvement products, lawn and garden products, and décor products, as well as provide installation, home maintenance, and professional service programs to do-it-yourself and professional customers.. The stock is part of the Home Improvement Retail industry in the Consumer Cyclical sector. The company's Headquarters are in Atlanta, United States, and has 400,000 employees worldwide. Its corporate website is http://www.homedepot.com.

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