HPQ got rejected at the channel median. HPQ CEO sold part of his holdings on 3 Jan.
Elliott:
We are able to count a complete 5-waves move up, suggesting the trend could reverse soon, or has reversed already.
Oscillators:
The Stochastic is overbought and the RSI shows a bearish divergence.
Geometry:
The channel median provided resistance on 3 Dec and might do so again.
How to trade it:
An idea could be to test a short position and observe if HPQ can break the green support diagonal around 36.3. Price often continues to climb after prominent insider sells, until it breaks down a few days later. The idea is invalidated if HPQ breaks the channel median (blue line) to the upside.
Elliott:
We are able to count a complete 5-waves move up, suggesting the trend could reverse soon, or has reversed already.
Oscillators:
The Stochastic is overbought and the RSI shows a bearish divergence.
Geometry:
The channel median provided resistance on 3 Dec and might do so again.
How to trade it:
An idea could be to test a short position and observe if HPQ can break the green support diagonal around 36.3. Price often continues to climb after prominent insider sells, until it breaks down a few days later. The idea is invalidated if HPQ breaks the channel median (blue line) to the upside.