CFD Trading – Sell HP Inc (HPQ.NYS) @ $29.30. Stop @ $31.90 and Target @ $25.90

HP INC. Stock Code HPQ.NYS

Price gapped below and closed below the cloud on 29 May and this could signal the start of a new bearish trend. Conversion and Base lines had already had a bearish crossover earlier, hinting of a bearish price trend ahead. Lagging Span is below price of 26 days ago but is above the cloud. MACD is bearish with both lines below the zero line. Both of MACD’s lines are moving lower, hinting of a continuation of a bearish trend. We think price is likely to move lower to a previous price support at $25.88 in the next 2-3 weeks as long as the gap created on Friday is not closed.

$29.30                Sell
$25.90                Price Target
$31.90                Risk Management Stop
3 weeks              Trade Duration

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