THE HOME DEPOT, INC.

HD
Real-time Estimate Quote. Real-time Estimate  - 10/29 03:29:03 pm
270.905USD +0.44%

The Home Depot, Inc. : There is still some upside potential

Nathan Houtch
Junior Analyst

Strategy published on : 10/14/2020 | 09:08

long trade under condition
Stop-loss triggered

Entry price : 292$
Target : 323$
Stop-loss : 276$
Cancellation Level : 241$
Potential : 10.62%

The underlying tendency is to the upside for shares in The Home Depot, Inc. and the timing is opportune to get back into the stock. A comeback of the upward dynamic can be anticipated.
Investors should benefit from the breakout of the $ 292 level to target the $ 323.

Summary

● The company has strong fundamentals. More than 70% of listed companies have a lower mix of growth, profitability, debt and visibility criteria.

● The company has solid fundamentals for a short-term investment strategy.


Strengths

● There is high visibility into the group's activities for the coming years. Outlooks on future revenues from analysts covering the equity remain similar. Such hardly dispersed estimates support highly predictable sales for the current and upcoming fiscal years.

● Historically, the company has been releasing figures that are above expectations.

● Growth remains a strong point in this company. In their sales forecast, analysts sound optimistic with regard to sales prospects.

● Over the last twelve months, the sales forecast has been frequently revised upwards.

● For the last few months, EPS revisions have remained quite promising. Analysts now anticipate higher profitability levels than before.

● The tendency within the weekly time frame is positive above the technical support level at 214.08 USD


Weaknesses

● The stock is currently in contact with a medium-term resistance that must be gotten rid of so as to resume the upward trend.

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