The Hewlett Packard (HPQ) weekly chart shows the following signs:
The Price of HPQ after earnings and forecasting announcements last week, make a 6,1% bullish movement last friday.
The MACD has given a bullish sign and the RSI too, reaching overbought levels. The Stock is over the KUMO Cloud and the Tenkan-sen is over the Kijun-sen.
I expect that the stock will continue the bullish movement until the first resistance line at $37 for some consolidation. Technicaly if the stock follows the cup with handle pattern then in long term it will reach the 100% projection of $13 to $29 from $29 to ($29+$29-$13)=$45
The Price of HPQ after earnings and forecasting announcements last week, make a 6,1% bullish movement last friday.
The MACD has given a bullish sign and the RSI too, reaching overbought levels. The Stock is over the KUMO Cloud and the Tenkan-sen is over the Kijun-sen.
I expect that the stock will continue the bullish movement until the first resistance line at $37 for some consolidation. Technicaly if the stock follows the cup with handle pattern then in long term it will reach the 100% projection of $13 to $29 from $29 to ($29+$29-$13)=$45
