The Home Depot, Inc. : Wait for the USD 80.5 resistance
By Arnaud Le Berre
Entry price | Target | Stop-loss | Potential |
---|---|---|---|
$80.23 | $86 | $78 | +7.19% |
The company is well evaluated by the Surperformance rating system. Indeed, profitability is constantly improving and is estimated at 11.6% in 2014. Also, EPS and revenue estimates have been revised upward by analysts from the Thomson Reuters consensus.
Technically, all indicators are in the green on all time scales. The 20-day moving average is in support and should act as a stepping stone to help the stock go through the USD 80.5 resistance.
Investors should buy the stock on crossing the USD 80.5 short term resistance, which would drives a new buyer enthusiasm and lead the security toward the upper limit of the bullish channel around USD 86. A stop loss will be set on the lower limit of the bullish channel.