Shares of The Home Depot are trading at a discount of 1.9% to a 52-week high of September 13, reflecting an uptrend since mid-August amid the publication of a strong quarterly report. Since the beginning of the year, the issuer’s quotes have added more than 33.5% in value. Earlier, the company confirmed a 3.1% forecast earnings per share up to USD 10.03 for the current year due to favorable consumer demand and a stable housing market. At the same time, growth in comparable sales is expected at 4% compared to last year.
During the previous week, the stock of The Home Depot grew by 2.31%. S&P 500 index went down by 1.00% during the same period.
Trading tips
If the price consolidates above 235.00, one may consider buying #HD. Potential profits should be locked in by orders at 242.00, 248.00 and 255.00. Stop loss — 228.00.
If the price consolidates below 224.00, the company’s shares are expected to correct. The movement potential is aimed in the area of 215.00–210.00. Stop loss — 230.00.
Implementation time: 3 days.
Support and resistance
Shares of the company have consolidated after a protracted rally. Currently the emitter is moving sideways. No single direction tendencies are observed. Support and resistance levels are 224.00 and 235.00 respectively. Technical correction of #HD quotes is possible in the near future. Indicators don’t give clear signals: the price is consolidating at MA (50); and MACD is located near the zero mark. Positions are to be opened from key levels.
Comparing company’s multiplier with its competitors, we can say that #HD shares are neutral.
| Scenario |
| Timeframe |
Intraday |
| Recommendation |
BUY STOP |
| Entry Point |
235.00 |
| Take Profit |
242.00, 248.00, 255.00 |
| Stop Loss |
232.65, 228.00 |
| Key Levels |
212.00, 218.00, 224.00, 235.00 |
| Alternative scenario |
| Recommendation |
SELL STOP |
| Entry Point |
223.90 |
| Take Profit |
215.00, 210.00 |
| Stop Loss |
230.00 |
| Key Levels |
212.00, 218.00, 224.00, 235.00 |
| Sep-25-19 |
Reiterated |
Telsey Advisory Group |
Market Perform |
$210 → $220 |
|
| Sep-17-19 |
Downgrade |
Guggenheim |
Buy → Neutral |
|
|
| Jul-16-19 |
Downgrade |
Gabelli & Co |
Buy → Hold |
|
|
| Jul-11-19 |
Initiated |
Goldman |
Buy |
$235 |
|
| May-01-19 |
Reiterated |
Telsey Advisory Group |
Market Perform |
$192 |
|
| Apr-11-19 |
Reiterated |
BofA/Merrill |
Neutral |
$202 → $215 |
|
| Mar-20-19 |
Initiated |
Evercore ISI |
Outperform |
$215 |
|
| Feb-27-19 |
Downgrade |
Telsey Advisory Group |
Outperform → Market Perform |
$205 → $192 |
|
| Nov-16-18 |
Downgrade |
BofA/Merrill |
Buy → Neutral |
|
|
| Oct-23-18 |
Reiterated |
Morgan Stanley |
Overweight |
$225 → $200 |
|
| Oct-17-18 |
Downgrade |
Credit Suisse |
Outperform → Neutral |
|
|
| Apr-24-18 |
Initiated |
Wells Fargo |
Outperform |
|
|
| Apr-11-18 |
Initiated |
Gabelli & Co |
Buy |
$206 |
|
| Mar-02-18 |
Initiated |
Loop Capital |
Hold |
|
|
| Feb-21-18 |
Reiterated |
Telsey Advisory Group |
Outperform |
$220 → $217 |
|
| Feb-21-18 |
Reiterated |
Stifel |
Buy |
$230 → $225 |
|
| Feb-21-18 |
Reiterated |
Argus |
Buy |
$190 → $215 |
|
| Jan-25-18 |
Reiterated |
Stifel |
Buy |
$209 → $230 |
|
| Jan-24-18 |
Reiterated |
Credit Suisse |
Outperform |
$183 → $222 |
|
| Jan-19-18 |
Reiterated |
Telsey Advisory Group |
Outperform |
$190 → $220 |
|
The Home Depot, Inc. as a home improvement retailer. It operates the Home Depot shops selling various building materials, home improvement products, lawn and garden products, and decorative products, as well as installation programs, home maintenance and professional services to make it and professional customers. The company also provides installation programs including flooring, cabinets and cabinet tablets, countertops, furnaces and central air systems, and windows; and professional installation in various categories sold through their stores and in-house sales programs, as well as acting as a contractor to provide me with installation services to my customers through third-party installers. It also provides tools and equipment rental services. The company mainly caters for homeowners; and professional rehabilitation / remodeling, general contractors, craftspeople, property managers, construction service contractors, and specialty craftspeople, such as electricians, plumbers, and painters. He also sells his products online. As of February 3, 2019, the company operated 2,287 stores in the United States, including Puerto Rico Commonwealth, and the Virgin Islands and Guam purposes; Canada; and Mexico. The Home Depot, Inc. was founded. in 1978 and is located in Atlanta, Georgia.
No comments:
Post a Comment