Good to wait a minor pull back if it ever happens, the stock seems bottomed and ready to take off now. This head and shoulder's bottom is reliable pattern and always good to wait a pull back which will come once profit taking hits or price consolidates within a tight range. If you are long or want to go long make your stop loss tight recent low 17.67-18.38 area...
But you don't need to point out it's extended abv BB
Needs to hold 20MA, cloud and a couple of gaps below.
I dont think HPQ will break out along with RIMM and NOK here. HPQ still has some fundamental problems and technically it looks bad here. So I believe HPQ is ready for another leg down here. Target 10.50 Stoploss 16.50
need a positive quarter to break the 15 pressure line.
Trap or opportunity? On the monthly chart, you can see clearly five waves from the top /april 2010/. Share price reached a strong support zone /bottom line from the great parallel channel 1987-2012/. In my opinion....you can take the risk! www.youtube.com
HPQ is trading in a strong bear channel recently. We're currently at the top of the channel and it's viable to make a low risk high risk:reward trade targeting the measured move target of the big bear bar in October. This trade has to be entered with limit order at 14.00.
A2 (two legged PB at EMA) for HPQ. Marked tried to get under EMA twice and failed. Should move up and close the gap at 19.00 if triggers above 18.30
I waited a $28 level, but stock go down and now close bottom support line on the $23. I hope it will draw a double bottom and price move up with first target $25 and next $28.
There 's a chance that the stock fall below $ 29 again to test support level around 28.61. if today's high ( $30) is broken, i will mostly go long .