$HOME At Home Group Inc - Breakout & Retest
Updated
HOME At Home Group IncBreakthrough ~$17.50 resistance earlier this month with successful retest last week.
Earnings coming up tomorrow after the close. I'm bullish for two reasons:
1) They already reported on 7/29 preliminary Q2 net sales with comparable store sales up 42%.
2) With low interest rates and the housing market booming right now, all those new homes need to be furnished.
Note: Post earnings reactions can always go either way. This is not investment advice.
Medium term target: $24.50 by end of Sept
Note
Also: Options flow today for nearest expiration (9/18) has been bullish - most notably the $23.00 strike call trading more than 6x open interest today. Looking much farther ahead at long-dated deep ITM options (where the big boys place their bets) there's a significant number of calls in open interest vs puts.
Today's Put/Call Volume Ratio: 0.22 or almost 5 to 1 calls over puts
Current Put/Call Open Interest Ratio: 0.25 or 4 calls for every 1 put in OI
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