Hewlett Packard Enterprise Company Stock Code HPE.NYS
Outlook
Price broke below the cloud last night with a black large candlestick, which was larger than the average of this stock, enhancing the bearish sentiment. Price has been consolidating for the past 2 month around the cloud area and this break could signal the end of a consolidation and the start of a new bearish trend. Conversion and Base lines do not have a bearish crossover as yet and is unable to confirm the bearish trend. Lagging Span is above price of 26 days ago and above the cloud. Lagging Span and is also unable to confirm the bearish trend but MACD has a bearish crossover and is turning down. MACD is hinting of a bearish trend ahead. As long as price stays below the cloud, we are looking for a test of the previous support at $8.90
Strategy
$9.80 Sell
$8.90 Price Target
$10.35 Risk Management Stop
3 weeks Trade Duration
