 Welcome traders to another Tickmail Earnings Report preview with me, Patrick Munley. Before we jump into today's report, it's important as always that we appear to the risk disclaimer. The material provided is for information purposes only and should not be considered as investment advice. Views, information and opinions expressed by me in this recording are solely mine and they're not addictive or representative of those held by Tickmail UK or Tickmail Europe Limited. Okay, let's jump into today's report. We are looking at Home Depot. Home Depot is expected to announce earnings after the New York closed today. Wall Street analysts expect Home Depot will report earnings of $3.68 per share. In terms of the earnings per share, 28 analysts are predicting earnings of $3.68 per share as opposed to the earnings of $3.86 per share in the same quarter last year. Wall Street is expecting sales of $36.7 billion, a decrease of 2.14% over the prior year's quarter. With regard to the current fiscal year, analysts forecast a profit per share of $16.99. Last year it was $15.53 per share. In terms of sales, analysts estimate that the company will bring in $153.87 billion in the current fiscal year compared to $151.16 billion in the same period last year. Let's take a look at some of the statistical trading patterns around the earnings released for Home Depot. Shares have moved lower in the immediate aftermath of earnings 9 out of 12 previous reports. On average, stock moved down 1.7% in the first day of trading after the company's earnings release. Based on the previous 12 earnings releases, Home Depot is more likely to trade lower one day after earnings from an average loss of 0.8%. On average, the stock has moved higher one week after earnings by an average of 0.1%. From an implied volatility perspective and looking at the potential moves around the release, options traders are pressing in a 6.7% move on earnings. The stock has averaged a 4.4% move in recent quarters. From a flow and sentiment perspective, on May 16th there was a notable buyer of just over 1,000 contracts, 1,004 contracts of the $300 call which expires this Friday. In options, order flow sentiment in general has been bullish. Investor sentiment going into the company's earnings release though only has 37% expecting an earnings beat. Share prices tended to drift lower 5.8% post earnings announcements. Using the last 12 quarters of data, the average drift between earnings announcement is a 7.3% move. Let's take a look at the charts now and see if we can identify any near-term trading opportunities. Looking at the chart, we have been in a downtrend and I note that the monthly volume-wasted average price is actually turned negative now. From a technical perspective, currently on the daily timeframe developing in a wedge pattern here, for me any breach of the $278 downside, any close through that $278 downside, opens a move to test support down to $247. So watching for any close through that $278 to be on the short side, targeting move to the 247. However, if we can get a close through the descending trend line resistance and the pivot here at $304, I would look to engage on the long side, looking initially for a test of the high volume node up to $319. And then as pullbacks remain supported, we can look for a potential test of range resistance up to $339 on the upside. So it's really going to be key to see where this next close comes, either through the pivot on the upside or through the descending trend line support on the downside to identify whether or not we're going to trade it from the long and the short side. As always, traders, plan the trade, trade the plan, and most importantly, manage all this. Until next time, thanks very much.