HP Inc. (HPQ/NYSE): general analysis
09 August 2018, 12:19
| Scenario | |
|---|---|
| Timeframe | Intraday |
| Recommendation | BUY STOP |
| Entry Point | 24.30 |
| Take Profit | 24.75, 25.00, 25.50 |
| Stop Loss | 23.75 |
| Key Levels | 22.50, 23.00, 23.50, 24.25, 24.75 |
| Alternative scenario | |
|---|---|
| Recommendation | SELL STOP |
| Entry Point | 23.40 |
| Take Profit | 22.75, 22.25 |
| Stop Loss | 24.00 |
| Key Levels | 22.50, 23.00, 23.50, 24.25, 24.75 |
Current trend
Since the beginning of August, HP Inc. shares strengthened by 4.91% and renewed 3-month maximum at 24.14 yesterday. On August 23, the company will publish Q2 report.
HP Inc. reported on the purchase of the British printing company Apogee Corp. for $500 million, which will help HP Inc. to strengthen the position on the A3 printing market, estimated at 55 billion USD. The transaction is expected to be completed by the end of the year.
During the last week, HP Inc. increased by 4.91% against the growth of S&P 500 by 1.56%.
Support and resistance
Since the beginning of this month, the buyers prevail. At the moment, the company's shares are testing the key supply area of 24.00–24.25. The level of 23.50 is the "mirror" support. The issuer has the potential for further growth. Indicators reflect the strength of buyers: the price was fixed above MA (50) and MA (200); MACD is in the positive zone and continues to rise. It is better to open the positions according to the current trend.
The comparative analysis of the indicators of the company and its competitors suggests the neutrality of its share prices.
Resistance levels: 24.25, 24.75.
Support levels: 23.50, 23.00, 22.50.
Trading tips
Long positions can be opened after the price is set above the level of 24.25. The closing of the profitable positions is possible at the levels of 24.75, 25.00 and 25.50. Stop loss is 23.75.
Short positions can be opened after the price is fixed below 23.50 with the targets at 22.75–22.25. Stop loss is 24.00.
Implementation period: 3 days.
Since the beginning of August, HP Inc. shares strengthened by 4.91% and renewed 3-month maximum at 24.14 yesterday. On August 23, the company will publish Q2 report.
HP Inc. reported on the purchase of the British printing company Apogee Corp. for $500 million, which will help HP Inc. to strengthen the position on the A3 printing market, estimated at 55 billion USD. The transaction is expected to be completed by the end of the year.
During the last week, HP Inc. increased by 4.91% against the growth of S&P 500 by 1.56%.
Support and resistance
Since the beginning of this month, the buyers prevail. At the moment, the company's shares are testing the key supply area of 24.00–24.25. The level of 23.50 is the "mirror" support. The issuer has the potential for further growth. Indicators reflect the strength of buyers: the price was fixed above MA (50) and MA (200); MACD is in the positive zone and continues to rise. It is better to open the positions according to the current trend.
The comparative analysis of the indicators of the company and its competitors suggests the neutrality of its share prices.
Resistance levels: 24.25, 24.75.
Support levels: 23.50, 23.00, 22.50.
Trading tips
Long positions can be opened after the price is set above the level of 24.25. The closing of the profitable positions is possible at the levels of 24.75, 25.00 and 25.50. Stop loss is 23.75.
Short positions can be opened after the price is fixed below 23.50 with the targets at 22.75–22.25. Stop loss is 24.00.
Implementation period: 3 days.
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