Home Depot Gets Hammered As Gross Margins Decline Year-Over-Year. Here’s How To Trade The Stock Now.

Home Depot Gets Hammered As Gross Margins Decline Year-Over-Year. Here’s How To Trade The Stock Now.

(Photo by Nicholas Kamm) Home Depot (HD) beat earnings-per-share estimates for the seventh consecutive quarter before the opening bell on February 22. Sales remained strong for home improvements, but primarily because of higher prices. This resulted in a year-over-year decline in gross margins. The stock is down 23. 8% year-to-date and is 24. 8% below its all-time intraday high of $420. 61 set on December 6, 2021. It's still up 28. 2% from its March 5, 2021 low of $246. 59. Weakness has shares of Home Depot fairly priced. Its p/e ratio is 23. 05% with its dividend yield at 1. 90%. The stock has beaten earnings-per-share estimates in the last seven quarters. The Daily Chart for Home Depot Daily Chart for Home Depot Home Depot had been above a golden cross 52 weeks ago. With the 50-day simple moving average above the 200-day simple moving average buying weakness to these averages provided buying opportunities. This strategy came to an end on the gap below the 50-day SMA on January 10. The close below its 200-day SMA on February 18 provided a warning before the earnings release on February 22. Note that as 2022 began, that shares of Home Depot