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Home Depot, Inc. [NYSE: HD] Sees Decrease in Stock Value

The buying and selling of stock by a company’s insider give investors a sense that the stock will rise or fall in the future. Home Depot, Inc. shares valued at $19,332,587 were sold by Carey Matt on May 16 ’24. At $345.18 per share, Carey Matt sold 56,008 shares. The insider’s holdings dropped to 33,325 shares worth approximately $11.12 million following the completion of this transaction.

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Also, Siddiqui Fahim sold 3,000 shares, netting a total of over 1,031,370 in proceeds. Following the sale of shares at $343.79 each, the insider now holds 8,155 shares.

Before that, Padilla Hector A had sold 82 shares from its account. In a trade valued at $28,619, the EVP – US Sales and Operations traded Home Depot, Inc. shares for $349.01 each. Upon closing the transaction, the insider’s holdings decreased to 82 shares, worth approximately $4.68 million.

As published in a research note from DA Davidson on June 26, 2024, Home Depot, Inc. [HD] has been rated up from a Neutral to a Buy and the price target has been revised to $395 from $352. Analysts at Telsey Advisory Group resumed the stock at ‘”a Market perform”‘ outlook in a report released in early April. As of March 19, 2024, Mizuho has initiated its “Buy” rating for HD. Earlier on February 21, 2024, HSBC Securities downgraded its rating. Their new recommendation was “a Reduce” for HD stock which previously was a “a Hold”.

Analyzing HD Stock Performance

During the last five days, there has been a drop of approximately -2.36%. Over the course of the year, Home Depot, Inc. shares have dropped approximately -3.69%. Shares of the company reached a 52-week high of $396.87 on 03/21/24 and a 52-week low of $323.77 on 05/29/24. A 50-day SMA is recorded $338.29, while a 200-day SMA reached $336.82. Nevertheless, trading volume fell to 1.73 million shares from 3.0 million shares the previous day.

Support And Resistance Levels for Home Depot, Inc. (HD)

According to the 24-hour chart, there is a support level at 331.57, which, if violated, would cause prices to drop to 329.51. In the upper region, resistance lies at 337.67. The next price resistance is at 341.71. RSI (Relative Strength Index) is 42.90 on the 14-day chart, showing neutral technical sentiment. Moving Average Convergence Divergence (MACD) is at -9.99, which suggests the price will decrease in the coming days. Percent R is at 95.59%, indicating bearish price movement. Stochastics %K at buying indicates that the stock is to be held.

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