Home Depot Pops And Drops After Q4 Beat

Home Depot

shares are trading higher by $1.19 at $124.04 in Tuesday's session. The catalyst for the rally is a Q4 beat of $0.07 with $600M more in revenues. Also, the company issue inline FY 2016 EPS guidance but its sales figures came in shy of the Street's s expectations. As a result, the issue opened sharply higher, rallied to $127.19 and then reversed course. The ensuing decline has taken the issue into the upper end of Monday's range, but is continuing to make new lows for the day. If the decline continues, there may be additional support at Monday's close ($122.85).