The Home Depot, Inc. (NYSE: HD) — This home improvement retailer rose from $18 to over $37 in just 17 months.
But economic pressures on the retail group have taken their toll, and the stock fell to $27 before forming a base.
Since June, buying has increased along the base, and in late August, buyers popped the stock through its 50-day moving average.
But HD is still in a bear market, and the death cross of late July is still in effect.
Long-term buyers should put this stock on their watch list and wait for the signal to buy, which would include the penetration of its 200-day moving average on high volume.
If you have questions or comments for Sam Collins, please e-mail him at samailc@cox.net.
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