d.vezeris
Long

Hewlett Packard WEEKLY (21) CHART TECHNICAL ANALYSIS

NYSE:HPQ   HP INC
54 0 0
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
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