Home Depot Shares Range Bound Near Resistance

Home Depot shares are trading near $340 after climbing about 1% this week, but sellers are keeping pressure despite the move.

The company reported solid earnings and a consistent dividend, which underpin its setup as the market weighs cost concerns and executive changes heading into the new week.

The weekly forecast is range-bound near resistance, with volatility contained within a narrow range. The nearest support is at $330.69, and the nearest resistance is $340.06, which coincides with the MA-50.

Analysts expect trading between $330.99 and $348.62 in the week ahead, with a 28% probability of an increase and a 72% probability of a decrease.