Shares of The Home Depot Inc., the world’s largest home improvement company, are on a corrective trend at 332.00.

On the daily chart, there is a construction of a global ascending channel with dynamic boundaries of 290.00–356.00, within which the price is approaching its upper border.

On the four-hour chart, the prospects for continued growth have increased significantly after the quotes reached the year’s high of 335.00, in case of the breakout, the trading instrument may reach the resistance line of the global channel around 355.00.

Technical indicators keep a buy signal: the range of fluctuations of the EMA on the Alligator indicator expands upwards, and the AO histogram forms rising bars in the buying zone.

Trading tips

Long positions may be opened after the price rises and consolidates above 336.00 with the target at 346.00. Stop loss — 330.00. Implementation period: 7 days or more.

Short positions may be opened after a reversal, reduction and consolidation of the price below 327.00 with the target at 314.00. Stop loss — 335.00.