HP the tech company has fallen into the bear market. Right now it is trading on 9.26 a big drop from where it was at the start of this year at around 16.00.
Sell Short: Hewlett Packard - Ticker: HPE - Sector: Technology Industry: Communication Equipment
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Sell Entry: 12.22 to 10.91
Stop-Loss: Available to Subscribers
Take Profit Price Targets: Available to Subscribers
NYSE:HPE
NYSE:DELL
NYSE:IBM
NASDAQ:AAPL
NYSE:SNE
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The price is below the moving average of 20 MA and MA 200, indicating the downward trend.
MACD is below the zero level.
The oscillator Force Index is below the zero levels.
If the level of support is broken, you shall follow the recommendations below:
• Timeframe: H4
• Recommendation: Short Position
• Entry Level: Short Position 16.15
• Take Profit Level: 15.15...
Investors finally have something to be bullish about, earnings beat estimates easily and the company is optimistic for the future.
The stock was down over 20% in 2019 but has had a nice 7% gain in the afterhours.
Much will depend on the earnings call, a possible entry for a long is $14.15, juts above near term resistance.
HPE LOOKS LIKE A LOVELY RISK REWARD LONG IN ITS CURRENT PRICE ACTION, WE SEE A INVERSE H&S FORMING ALONG WITH POSITIVE INDICATORS AND MORE POSITIVE
DEVELOPMENTS ON THE BUSINESS DEVELOPMENT FRONT.
Horizontal purple lines above 18,58 are your targets / potential tops.
I don't advice to buy for the long term until we see a good uptrend above 18.58.
The vertical lines represent an expectation of a change in trend, a pivot high/low or start of a new bull market.
Q4 2020 is going to be very interesting.
