TradingKey – Home Depot (NYSE: HD) reports fiscal third-quarter results on Tuesday, November 17, before the market opens. The home improvement retailer goes into the report trading on the lower edge of the rising channel that has carried the stock higher since early October, with $344.31 support just below.
The stock rose 19.5% from October 13 to November 11, while the S&P 500 fell over the same period. That rebound came after a 28.1% slide from February 13 to October 5, and the stock still trades about 12% below its 52-week high of $397.63.
A Rally the Housing Data Has Not Confirmed
In August, management said homes have changed hands at very low levels for four years, with no clear sign yet of an inflection point, and that big-ticket…
