ATLANTA – Home Depot Inc. (HD) shares experienced a significant sell-off on Friday, with the stock trending consistently lower throughout the session and closing with a substantial loss. The negative momentum continued into after-hours trading, setting a decidedly bearish tone for the start of the new trading week.
The home improvement giant saw its stock close
8.46 (2.33%). The day was characterized by intense and sustained selling pressure. After opening at $360.00, the stock was unable to find support and fell throughout the day, hitting an intraday low of $352.80. While it stabilized slightly just before the close, it failed to recover any meaningful ground.
Compounding the negative outlook, the stock edged lower in the after-hours session to $354.40, a further loss of 0.072%. This indicates that the selling pressure did not abate with the closing bell.
Analysis for Monday:
The technical signals for Home Depot are overwhelmingly negative heading into Monday. A stock that sells off for an entire day and closes near its low indicates strong bearish control and a lack of buying interest. The additional dip in after-hours trading reinforces this sentiment.
Given this price action, investors should be prepared for the high probability of continued downward movement on Monday. The stock is likely to test its recent low of $352.80 at or near the market open. A failure to hold this support level could lead to a further sell-off as the bearish trend continues.
