Stocks to Trade 2-21-17 | HD-Home Depot Earnings Report

hd home depot

HD-Home Depot Earnings Report 2-21-17

Home Depot to post fourth-quarter results February 21

Home improvement retailer Home Depot ( HD ) will report its fourth-quarter results before the market open on February 21. Analysts expect the company to report earnings of $1.32 per share, on revenue of $21.73 billion. HD shares have risen 5.4% on the year. nasdaq.com

At Home With Home Depot

A house isn’t always a home, but Home Depot (HD) is still the go-to stock in home improvement. And that shouldn’t change when the company reports earnings on Tuesday. Analysts expect Home Depot to report a profit of $1.33 a share for the fiscal fourth quarter, ended Jan. 31, according to FactSet—a prospective increase of 14% from the numbers a year ago. Sales are likely to have grown by 4% to $21.8 billion. And, results might even beat those estimates. barrons.com

Earnings Preview: What To Expect From Home Depot On Tuesday

Home Depot ($HD) is scheduled to release earnings before Tuesday’s open (Feb 21, 2017). Home Depot just hit a record high of $142.99/share on Thursday (2.16.17). The stock is prone to big moves after reporting earnings and can easily gap up if the numbers are strong. Conversely, if the numbers disappoint, the stock can easily gap down. To help you prepare, here is what the Street is expecting: forbes.com
$HD 2-21-17 Before Earnings

$HD 2-21-17 Before Earnings

Today’s Trading Lesson…

You can worker harder than any trader you’ve ever met, but if you don’t understand this one simple concept you will forever be a break-even trader.

The simple truth of trading success lies at the very foundation of the trading idea itself. The risk in a trade is the quality of the idea. The risk to your trading account doesn’t come from the market. The real risk comes from accepting risk on bad ideas.

Once you fully understand the concept of Ten Perfect Trades, your trading success transforms overnight.

Watch this short video now…

On the Tape Today | 2-21-17

$X 2-21-17

$X U.S. Steel 2-21-17

X | United States Steel Corp one very few stocks not near a Saturation Point. Bullish Order Flow remains clear and the stock price has room to go. Planning for a $40.25 buy-stop and a swing trade target to sell @ $45.75. Stop loss is on a close below $39.

GILD | Gilead Sciences retraced to the $71 resistance level and produced a key reversal day. The reason I am placing it as a short sale today is the relative weakness to the strong close in the stock market. Not expecting a full decline to the $65.50 support but a two day trade with a target @ $67. Using a $69.50 sell-stop to trigger the entry. 

 VISIT THE PODCAST ARCHIVE == >>

$SPY 2-21-17 Hourly Chart

$SPY 2-21-17 Hourly Chart

Tape Reading the SPY ETF

$SPY ETF continues the unabated trek to new all-time highs…

Not much to say here expect don’t be buying a gap higher on the open unless it hold the first half hour of support. Emotions can get the best of us when we fear we missed out. Be disciplined and have criteria.

The long remains the correct play, smart trading calls for eliminating one side of the market and looks or spots to bid. Friday, a typically slow day in front of a three day weekend, provided plenty of opportunity for those traders who worked the full day.

The bears feel the pain, and with good reason. The buying, or at least the support under the market is relentless. Any case the bears had vanishes each day as volume continues to be steady, and distribution nowhere to be found.

My game plan for the short week (today is Tuesday not Monday) maps out as follows:

Bullish traders have every right to expect follow through. The price action is slow and steady, and volume churns out reasonable numbers each day. A sign of continuation.

The bears have two scenarios to hope for: #1 is a parabolic move higher and a reversal day on heavy volume. Volume in the 125 million shares traded area.

Scenario #2 is the sneaky one that only savvy traders spot. Heavy volume churning. Multiple 100 million+ shares traded for at least 2-3 days but minimal price movement.

If the second situation unfolds, it doesn’t mean to get short, that is just dumb trading. It does mean to stop buying breakouts and wait for the pull-back and acceptable room to go.

Let the week begin 🙂

Stock Market Today: Heatmap of the S&P 500

$SP 500 2-21-17

$SP 500 2-21-17

Stocks to Trade 2-21-17 | Tuesday Edition

Short-Term Trading Momentum:

Bullish Momentum: KHC, CLVS, TMUS, VFC, MNK, SWKS, CC, JWN, AKAO, DLTR, DG, FSLR, CSX, X, LUV, TSLA

Bearish Momentum: 

Quarterly Order Flow:

Bullish Stocks to Trade: KHC, WDAY, X, ADSK, TSLA, BA, HD, DE, ADBE, ACN, GS, AGN, ACAD, COST, PNC, NSC, FB, IBM, EA, PRU

Bearish Stocks to Trade: rh, xom, gild, sm, ups, yelp, oxy, lb, rrc, psx, kors, apa, hes, dks

2x Normal Volume: KHC, CL, TMUS, UNH, GIS, FNSR, VFC, DE, EL, TRIP, SWKS, AMT

Inside days: csco, aapl, bmy, m, ebay, aig, tsm, bsx, cvs, myl, low, pypl, coh, jwn, wba, ma, kors, dg, pgr

GET WEEKLY PODCAST UPDATES

Become a Better Trader. Get Notified.

About the Author

Leave a Reply 0 comments

Leave a Reply: