We expect that the Home Depot stock will drop further until the current wave (B) concludes in our Target Zone (coordinates: $321.10 â $288.12). After the low is settled, we reckon with a bullish trend reversal, which is why our Zone presents an opportunity to take on long positions. It should be noted that it is also 29% likely for the low of wave alt.(B) to be already in place. In this case, our Zone would not be reached after all, and this alternative scenario will be confirmed if the resistance at $364.45 is exceeded prematurely.
