HP is appraoching our first resistance at 57.84 (horizontal overlap resistance, 61.8%, 50% fiboancci retracement) where a strong drop to our first support at 51.75 (horizontal swing low support, 50% Fibonacci retracement). Stochastic (55,5,3) is also approaching resistance where we might see a corresponding drop in price.
HP is approaching our first resistance at 58.02 (horizontal pullback resistance, 50% Fibonacci retracement) where a strong drop might occur pushing price down to our major support at 45.07 (horizontal swing low support). Stochastic (21,5,3) is also approaching resistance where we might see a corresponding drop in price.
HP is approaching its support at 40.98 (61.8% Fibonacci extension, 76.4% Fibonacci retracement, horizontal swing low support) where it could potentially bounce to its resistance at 57.54 (50% Fibonacci retracement, horizontal pullback resistance). Stochastic (55, 5, 3) is approaching its support at 1.9% where a corresponding bounce could occur.
HP is approaching our first support at 40.55 (horizontal swing low support, 76.4% Fibonacci retracement, 61.8% fibonacci extension) where a strong bounce might occur above this level pushing price up to our major resistance at 57.23 (horizontal pullback resistance, 61.8% fibonacci extension, 50% fibonacci retracement). Stochastic (55,5,3) is also approaching...
HP is approaching support at 49.56 (100% & 61.8% Fibonacci extension, 78.6% Fibonacci retracement, horizontal overlap support) where it could potentially rise to its resistance at 58.07 (38.2% Fibonacci retracement, horizontal pullback resistance). Stochastic (55, 5, 3) is approaching support at 2.7% where a corresponding bounce could occur.
HP is approaching its support at 58.36 (61.8% & 100% Fibonacci extension, 50% Fibonacci retracement, horizontal overlap support) where it could potentially rise up to its resistance at 65.27 (50% Fiboncci retracement, horizontal swing high resistance). Stochastic (55, 5, 3) is approaching support where a corresponding bounce could occur.
Info on Chart. Partial purchases at first, but I will be adding as long as the price stays above lower rising trendline.
When in doubt, simplify things (especially trading charts). Strong support at $58. Nothing like a Harmonic Pattern for a visual reference.
Failed to make new high on weekly. Lost the high in local trend gonna retest lower levels here.
The chart signals clear sailing for $HP to 64. Look for it to hit $70 in the next 3-6 months.
Earnings in 3 days. Will it break a critical support that it has held since 15+ years. Great company with a good dividend yield but in a sector that is extremely challenging.
08.05.17 Signal of a potential bottom from my dBFIr on DAILY chart Awaiting confirmation
Short Stop 66.24, Stop 70.47, Target 59.04, R/R = 1.7, Move to B/E at 62.92