Tag: HP Inc

HP Inc. Stock Code HPQ.NYS

Outlook

Price broke and closed above the cloud in the previous trading session, changing the chart outlook to bullish. Conversion line and Base line had a bullish crossover and is hinting at a bullish price trend ahead. Lagging Span is above price of 26 days ago but is below the cloud at the moment.  MACD is bullish with both its lines above the zero line. If price can stay above the cloud, it could be heading towards the next price resistance at $34.97 in the next 2-3 weeks.

Strategy                  

$30.47                Buy

$34.95                Price Target

$27.75                Risk Management Stop

3 weeks              Trade Duration

HP INC. Stock Code HPQ.NYS

Outlook
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.

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