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HD stock price slips below the crucial support zone of $280.
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Buyers have lost their strength and unwind their long positions.
Home Depot Inc. (NYSE: HD) HD stock price witnessed selling pressure and has slipped below the crucial support zone of $280. Furthermore, the price action indicates the bears dominance and persisted in adding short positions. Furthermore, the chart delivers the breakdown and showcased the three black soldiers pattern which is a sign of bearishness. Moreover, HD stock is in a correction phase and bulls were not able to absorb the selling pressure and are in trouble. HD stock dropped over 18% from the $330.
HD stock price is below the significant moving averages due to the selling pressure. Furthermore, the price action indicates that the short build up activity resulted in a breakdown. Moreover, the options chain shows that, at the strike price of $280, open interest of 1110 hundred shares on the put side, whereas 147 hundred s
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