Setting Up for Two More Reports

How will Lowe's (LOW) caution translate to Home Depot (HD)? It's a tough call, as I find Home Depot a little more attractive here -- but, overall, these two names are extraordinarily alike in terms of price-to-earnings ratios, debt levels, payout ratios, dividends and growth rates. So I have to anticipate a similar report in Home Depot, due Tuesday before the bell -- as well as a similar reaction in the shares.

Home Depot (HD) -- Daily Source: View Chart » View in New Window »

Home Depot does have a slightly different chart from that of Lowe's, but only in the fact it left a gap at the start of the year. I'm actually looking for a move toward that gap, or even a potential fill. Home Depot is showing two failed breakouts on the chart, but I think it would take something very negative to push shares much below the $62 or $63 area. Also, while I don't mind owning this stock, my approach on earnings here is still for a trade....280 more words left in this article. To read them, just click below and try Real Money FREE for 14 days.

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