Home Depot up on earnings miss?

Home Depot (HD) trading at $78.60 near its fifty two week highs. Home Depot is up about 2.69% today on an earnings miss. Shares of Home Depot have been trading in a fifty two week range between $72.21-78.82. Home Depot is a hardware and home improvement retailer. The company blamed the earnings miss on the long winter and the cold weather. Home Depot is one of the very few companies that could legitimately use the long winter as an excuse for a disappointing quarter. Most of Home Depot’s business comes from the sale of outdoor items. Considering the harsh winter Home Depot only missed by .03 cents a share. Although revenue fell sales were on the rise for the retailer. With the summer somewhere in the near future, traders think HD could continue through to new fifty two week highs. Today we saw some bullish activity in HD with a trader buying 2720 August 85 Calls for $0.32 cents. Home Depot is currently trading below the Ichimoku cloud. The chart is showing neutral future trend and has been trading bearishly on the cloud over the past two months. Although there isn’t any extremely bullish signals, we will be keeping an eye on Home Depot for bullish activity and a break in the cloud to the upside.