$Home Depot(HD)$, the leading home-improvement retailer, has been consistently hammering down market expectations, signaling a potential win as it prepares to unveil its Q4 earnings. The company has showcased an impressive streak, surpassing earnings estimates with an average surprise of 2.79% over the last two quarters.
In the most recent quarter, Home Depot exceeded consensus estimates, reporting earnings of $3.81 per share compared to the expected $3.76, marking a 1.33% positive surprise. The preceding quarter witnessed an even more significant outperformance, with earnings of $4.65 per share against an anticipated $4.46, boasting a substantial surprise of 4.26%.
However, amidst these optimistic signs, technical analysis raises a cautionary flag. The chart reveals an ascending wedge pattern, which is a potential bearish signal. Investors should be mindful of a breakout from the wedge, as it could trigger a descent in the stock price, with a possible downside target around $348.
HD Daily Chart
Home Depot is scheduled to release its earnings report next Tuesday. Investors keen on potential market movements should closely monitor both fundamental and technical factors to make informed decisions.
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Will Home Depot continue its streak of beating expectations, or is there a reversal on the horizon?
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Comments
$Home Depot(HD)$ hitting the technical targetat around 348 during premarket yesterday andhad a strong bounce from that level.
Is it time to sell some CSP? [Doubt] [Serious]