IMF_Trading

$HP Back to the $14s

NYSE:HPQ   HP INCORPORATION
Volume is quickly drying up on the $HP 4hr chart.
Gap to be filled back at the $15.40 down to 14.90 range.
SMI has flipped.
30% Run up in 6 days.

These 4 indicators say that we will most likely see a pull back this week and possibly next.

I personally would like to see it drop back into the gap or a bounce off the .618 fib.

I would hop back on the bullish train it it breaks above $17.53 on the daily chart .

Comments

Thank you for analysis. How sure are you of HPQ going down to 14s? I've a 18.5 call option expiring this week. Would it make sense for a 14.5 Put option this week or in next couple weeks?
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IMF_Trading kanalaravi
@kanalaravi, touched 14.85 as expected. you can follow me on twitter @imtrading_ which also has a link to our discord channel !
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