The Home Depot, Inc. (HD): Bullish Money Coming Into The Stock

buyers and sellersCorey Rosenbloom: On better than expected earnings, retail stock The Home Depot, Inc. (NYSE:HD) gapped higher, breaking to all-time highs through a ceiling of resistance.

Let’s take a look at the breakout and note how far Home Depot has traveled in a short amount of time.

Here’s the Daily Chart with the Breakout:

Shares actually broke free of a resistance level – a Symmetrical Triangle Price Pattern – above $82.00 per share and continued the bullish impulse into the $84.00 level.

Today’s pre-market earnings boosted shares above the breakout into a trending impulse well above the $84.00 prior high level.

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