RectangleRectangle support line penetrated but HD is back inside..
A bearish narrowing Rising wedge has possibly caused a deep pull back.
Lowes is still inside the rising wedge and has not broken the bottom trendline..yet. HD has broken the bottom trendline so the RW pattern is valid.
Rising wedges are most often bearish, although price can break up and out of a RW. CRM did for quite a while. The break to the upside is often not a healthy one though.
A Rectangle is a continuation pattern that forms as a trading range during a pause in the trend. The pattern is easily identifiable by two comparable highs and two comparable lows. The highs and lows can be connected to form two parallel lines that make up the top and bottom of a rectangle. Rectangles are sometimes referred to as trading ranges, consolidation zones or congestion areas. It can also be called a horizontal trading channel. HD is in a long term uptrend and has dropped to 258.73 on it's brief dip out of the channel. NV is high
Price can form patterns inside the rectangle. It almost looks like an ABC bullish pattern is trying to form. I am watching.
HD may continue to trade inside this pattern, but often MR/mid rectangle is used as a stop if it breaks to the upside or to the downside. Price is under MR today
