Signs of Life from Home Depot?

Last week I discussed Home Depot (HD) and said it looked like the stock was trying to find its footing but I wasn't yet seeing much in the way of strong price action. Based on the chart below, it seems that might be changing...

Created with SuperCharts by Omega Research

The stock initially opened lower after a lackluster earnings report but eventually staged a strong reversal by the close. The shares closed the week near the top end of the recent consolation and above near-term resistance (red line). The stock is pushing into overbought territory but that former resistance should now offer a degree of support.

One of the knocks against Home Deport recently has been the lack of knowledgeable staff. It seems the company had been known as a source of knowledge about home improvement issues but some criticized that this had eroded, both in terms of knowledge and in actually even finding anyone to help you. I know I have seen both scenarios first hand over the last few years.

It wasn't too long ago that I actually found myself correcting a Home Depot associate. As I was looking over the selection of stains I heard a gentlemen ask an associate to help him find something his wife sent him to retrieve, a can of "wipe on" polyurethane. After listening to the employee explain that "there was no such thing as wipe on poly" and suggest perhaps his wife meant "stain", I couldn't help but inject myself into the discussion. I noted that there was such a product and pointed out it was sitting right in front of them on the shelf. The associate only seemed slightly annoyed and was quick to walk off.

However, my recent experiences have been better. In fact, on trip this month I was impressed to find an associate who was both extremely knowledgeable and helpful. After doing some reading, I was jumping into the world of laying ceramic tile and the sales woman offered advice on products and tips on technique. Maybe the company is trying to turn its image around?

 Email to a Friend

 Del.icio.us

 Facebook

 Reddit

 Newsvine

 Digg

 Mixx