Home Depot Inc (HD) Technical Analysis

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Home Depot Inc (HD) Technical Analysis

Home Depot, Inc., also known as Home Depot, is an American multinational home improvement retail firm that offers a variety of goods and services, including the sale of fuel and vehicle rentals. The largest retailer of home improvement products in the US is Home Depot. The corporation generated more than $151 billion in revenue and employed 490,600 people in 2021. With an Atlanta mailing address, the business has its main offices in Cobb County, Georgia, which is incorporated.

It runs a large number of big-box stores in the United States, all 10 provinces of Canada, all 32 states of Mexico, and Mexico City. The Home Depot also owns the MRO business Interline Brands, which has 70 distribution sites nationwide and is currently known as The Home Depot Pro.[6] It has been at the center of various disputes, most of which have to do with the security and protection of its customers.

It is the sixth-largest employer in the world with operations in the United States.

Price

Home Depot, Inc.’s stock price finished at $319.69 and the company has a market size of $321.40 billion (44 million shares are still outstanding). Home Depot, Inc. trades under the symbol HD on the New York Stock Exchange. On the last day, the price of Home Depot, Inc. increased by 0.92%. The current outlook for The Home Depot, Inc. stock price is optimistic. The trailing-twelve-month dividend rate for The Home Depot, Inc. is $7.53 per share with a dividend yield of 0.03%.

On a scale of 0 to 100, Home Depot receives a performance rating of 6, which is poor. The company still has a Market Volatility (also known as Beta) of 1.2999, which indicates a moderately high market risk. Let’s attempt to dissect what Home’s beta means in this situation. The company is anticipated to perform better than the market as it grows. But if the market returns are poor, Home Depot will probably perform poorly. Although it is crucial to respect the past performance of Home Depot’s stock price, it is preferable to be realistic when analyzing the stock’s current price fluctuations. The theory behind predicting the future performance of any stock is to assess the company overall together with its past performance, taking into account all fundamental techniques that are now available.

Note

  • Value increased by 9.2% in the previous year.
  • The current mood is positive.
  • 30 days ago, there were 18 green days or 60%.

Analysis

 Over time, review Home Depot’s financial statements to obtain insight into the performance of the company. Financial statements can be examined to look for patterns among Home’s primary balance sheet or income statement drivers, such as Direct Expenses of 101 billion, Consolidated Income of 15.8 billion, or Cost of Revenue of 101 billion, as well as many unusual indicators, like Interest Coverage of 15.5 or Long Term Debt to Equity of 19.85 or Calculated Tax Rate of 25.33. Working with the Home Depot Valuation or Volatility modules is perfect when home financial statements analysis is used. Additionally, it can support Home Depot’s evaluation of stock options, financial leverage, and other technical models. Look at the comparison of Home Depot’s correlation to its rivals. 

On Daily Chart

  • The Moving Averages Convergence Divergence (MACD) indicator for Home Depot (HD) is 4.82, which indicates that Home Depot is a Sell.
  • With a share price of $319.48 and a 20-day exponential moving average of 309.46, Home Depot (HD) is a Buy.
  • With a share price of $319.48 and a 50-day exponential moving average of 302.69, Home Depot (HD) is a Buy.

Weekly Table

  • The Moving Averages Convergence Divergence (MACD) indicator for Home Depot (HD) is 2.90, indicating that Home Depot is a Sell.
  • With a share price of $319.48 and a 20-Day Exponential Moving Average of 300.86, Home Depot (HD) is a Buy.
  • With a share price of $319.48 and a 50-Day Exponential Moving Average of 300.14, Home Depot (HD) is a Buy.

Indicators 

  • The relative Strength Index (RSI) for Home Depot (HD) is 61.17, producing a Neutral signal.
  • The Trend Strength Indicator (ADX) for Home Depot (HD) is 13.65, indicating a Buy.
  • The Commodity Channel Index (CCI) for Home Depot (HD) is 197.32, indicating a Sell.
  • The price rate of change (ROC) for Home Depot (HD) is 10.51, generating a buy signal.
  • With a share price of $319.48 and a 10-Day exponential moving average of 304.35, Home Depot (HD) is a Buy.
  • With a share price of $319.48 and a 100-Day Exponential Moving Average of 295.99, Home Depot (HD) is a Buy.

Prediction

  By July 25, 2023, the price of Home Depot shares will have decreased by -3.17% and will be $ 309.54 per share, based on our most recent HD stock forecast. Our technical indicators indicate that the market is now bullish, despite the Fear & Greed Index reading of 39 (Fear). In the past 30 days, HD stock experienced 2.11% price volatility and 18/30 (or 60%) green days. Given that Home Depot stock is currently priced at 3.28% over our prediction, it would be unwise to purchase HD stock at this time.

2025 Stock Prediction for Home Depot

If Home Depot shares continue to increase at the same average annual pace as they have over the past 10 years, the stock forecast for 2025 is currently $ 442.97. The price of HD stock would increase by 38.57% as a result.

2030 Home Depot Stock Forecast

If the Home Depot stock continues to rise at its current 10-year average rate, it will reach $1,001.18 in 2030. Home Depot stock will increase 213.18% from its present price if this 2030 stock prediction comes true.

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