Technician

HP: Huge Upside Potential

BATS:HPQ   HP INC
304 6 3
-Bullish bottoming formation in the process
-Pattern is not confirmed yet, as a decisive break above the neckline with good volume levels is required now
-RSI Momentum breaks its bearish trend line
-MACD competes a bullish crossover
-If pattern is confirmed, ideal target would be around 44.50
-37.20 is another key resistance and possible conservative target

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I see that price has broken above the neckline but, there is no characteristic volume spike. What does this generally mean ?
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The breakout is still not a decisive one, and as u mentioned on low volume as markets in holiday period. I prefer to wait another week or two then consider buying. High Volume levels on a breakout hints conviction.
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yadudoc Technician
I'm relatively new to applying TA to stocks. Intuitively that makes sense, I checked S&P 500 and I see lower volume, which matches your idea. I guess wait for confirmation is the best option.
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Good luck
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Aahh.. It will go down
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Maybe, all options possible :)
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