Home Depot Shares Traded Near $291 Amidst Bearish Sentiment

Home Depot's shares continue to trade near $291 as sellers maintain pressure on the setup. Despite being in oversold territory, the technical indicators remain bearish, with downward momentum persistent and key support levels under scrutiny.

The company closed at $290.97, below its moving averages, and insider selling has fueled concerns about the stock's resilience. U.S. Representative Kevin Hern sold between $15,001 and $50,000 worth of HD shares on September 2, according to MarketBeat.

Next week, the projected trading range is expected to be $279.06 to $296.13, with a high probability of further decline. The $289.31 support level will be crucial for traders to watch in the coming week.