HOME DEPOT INC. THE - Home Depot, Inc. - 02/13/2024 (GMT)

Home Depot, Inc. (symbol ‘HD’)Home Depot, Inc. (symbol ‘HD’) share price had a spectacular steady growth in the latest quarter managing to rise by around 25%. The company’s earnings report for the fiscal quarter ending January 2024 is expected to be released on Tuesday 20th of February, before market open. The consensus EPS is $2.73 against $3.30 in the same quarter last year.

‘ The company recovered from the losses incurred in the previous quarter and is not showing any signs of slowing down at least for now. The price-to-earnings ratio (P/E ratio) increased from 18.14 on 31/10/2023 to 23.44 today indicating that the shareholders are anticipating higher economic growth for the company. In addition, the current ratio of the company is at 130% meaning that it can withstand any short-term turmoil with the current assets at hand making it an attractive addition to investors' portfolio. ’ said Antreas Themistokleous, trading specialist at Exness.
 
Technical analysis shows that the price is currently testing the resistance of the upper band of the Bollinger bands after finding sufficient support on the round number of $350 in recent sessions. Although the 50-day moving average is trading well above the 100-day moving average validating the overall bullish momentum in the market, the Stochastic Oscillator is in the extreme overbought area. This might be seen as slowing down in the bullish rally but for now, at least it might not be considered a strong sign of a trend reversal. Some minor correction might be seen in the short term but the long-term outlook seems to be bullish at least for the time being.