The Home Depot stock recently publicized its Q2 earning report on August 15th, 2023, the reported earnings gave a positive surprise by 4.39% from the estimated earnings. Moreover, the reported revenue also gave a positive surprise by 1.71% from the estimated revenue.
Home Depot has a debt-to-equity ratio of 3,154%, as reported by Simply Wall St. This implies that it has too much debt than equity, which is the difference between its total assets of $76.39 Billion and total liabilities of $75.05 Billion. Home Depot’s debt is $42.11 Billion, while its equity is $1.34 Billion.
Home Depot experienced an incline in its earnings at a rate of 11.9% per year on average, according to Simply Wall St., a financial website. The specialty retailing industry’s average annual earnings growth is 27.7%. Therefore, US Food’s earnings are lower than the industry average.
Moreover, Home Depot Inc. (HD) stock market capitalization is $334.82 Billion and the total revenue is $157.403 Billion. Moreover, the stock’s basic EPS is $16.06 and the price-to-earnings ratio is 20.74.
Technical Analysis of HD Stock Price in 1-D Timeframe
The price action shows that Home Depot Platforms Inc. ( NYSE: HD) stock price took major support at $280 and has been on an inclining trend for the last three months, increasing by 13.80% making higher highs and higher lows.
At the time of writing, HD stock is trading at around $333.03 and facing the nearest resistance around $337.58 and trying to sustain.
Therefore, if it maintains the current level, the HD prices could continue to move upward and reach the first and second resistances of $337.58 and $345.11.
However, if the HD price fails to sustain the current level and drops, it might hit the nearest support levels of $323.93 and $311.84.
At the time of publishing, Home Depot Inc. (NYSE: HD) is trading below the major 20, 50, 100, and 200-day EMA (exponential moving averages), which supports the HD price trend. Hence, the HD price is expected to move upwards showing a bullish overview over the daily time frame chart.
The current value of RSI is 65.95 points. The 14 SMA is above the median line at 65.61 points which indicates that Home Depot stock is in bullish territory and the RSI line took support from 14 SMA and is headed towards an overbought zone indicating bullishness.
The MACD line at 4.63 and signal line at 5.16 are above the zero line and both lines have narrowed towards each other. A bullish crossover is anticipated next in the MACD oscillator which expresses bullishness for the Home Depot stock price.
Summary
Home Depot Inc. (NYSE: HD) indicates that the traders and investors of the stock price are bullish on the 1-D time frame. The price action shows a bullish outlook at the time of publishing. The technical analysis tools of Home Depot stock price also support bullishness. The EMA, RSI, and MACD highlight upward signals and indicate that an uptrend may continue in Home Depot’s stock price.
Technical Levels
- Support levels: The nearest support levels for Home Depot stock price are $323.93 and $311.84.
- Resistance levels: The nearest resistance levels for the Home Depot stock price are $337.58 and $345.11.
Disclaimer
In this article, the views and opinions stated by the author, or any people named are for informational purposes only, and they don’t establish the investment, financial, or any other advice. Trading or investing in cryptocurrency assets comes with a risk of financial loss.
Source: https://www.thecoinrepublic.com/2023/08/17/home-depot-stock-price-prediction-will-hd-cross-ath-price/