HOME DEPOT INC. THE - Home Depot bearish momentum might be shifting - 05/11/2023 (GMT)

Shares in Home Depot, Inc. (symbol ‘HD’) is trading at a loss compared to the opening of 2023 currently sitting on a loss of around 9%. The company is expected to report its earnings for the fiscal quarter ending April 2023 on Tuesday 16th of May, before market open. The consensus EPS is $3,81 compared to the result for the same quarter last year of $4,09. 
 
‘With the dividend yield almost at 3% and the payout ratio at around 45% the company is an attractive addition to the portfolio of investors, especially long term. The retailing giant is looking financially healthy since the latest current ratio figure on January 2023 at 140% showing that they have the ability to overcome short term turbulence.‘’ said Antreas Themistokleous, an analyst at Exness.

On the technical side the price is trading in an overall bearish momentum with the 50 SMA still well below the 100 SMA while the Stochastic oscillator near the extreme oversold level indicating that a minor correction to the upside might be imminent in the following sessions. The lower band of the Bollinger bands is acting as a support on the price for the time being while the 50 SMA is acting as a resistance on the price. 

All in all the coming sessions are important for the price of the share because it could indicate the short term direction of the trend depending if it manages to break above the 50 day moving average or the lower band of the Bollinger bands. .