Mornau-Research

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Long
NYSE:HD   HOME DEPOT INC
Welcome back to another dow30 stock analysis, this time featuring home depot! NYSE:HD

Home depot counts to the companies who made massive profits because of the corona crisis.
The company more than doubled it's stock value since the march bottom and will very likely grow further in the next years.

Home Depot is currently trading sideways and didn't made a impressive move upwards or downwards in the last 100 days.
A solid triangle formed in this time, because of this i expect that we are currently in a wave 4.
Because Home Depot left this triangle the way is now free for a final correction in the read wave C.
From there on i will announce an entry for the upcoming months.


Primary scenario:
In the next days we will correct to atleast 250$-230$ and will establish a bottom.
From there we will start the wave 5, which will bring us to prices above 320$ or even more.


Alternative scenario:
My alternative scenario will get triggered if we break the previous the upper triangle line.
The bulls will Home Depot directly to prices above 320$ and we won't see another correcting in the upcoming days.

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