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HPQ US - Possible long as the price reached support levels

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HPQ.US (HP US) Our expectations: It is highly possible to see new rising movement, as the price reached support levels and reverted back above 100 EMA. Possible long with SL: 16.70 USD

Alternative scenario: eventual decrease in the prce under the diagonal support, below the previous bottom around 16.70 will make us close our longs and go short.

Commentary: Rising trend

  • Correction to diagonal and dynamic support levels
  • Price went back above 100 EMA - rising trend - bullish signal
  • 3 bullish bars - positive price action signal
  • CCI(50) still under -100, more conservative traders could wait for the indicator to climb above -100 to entry

Стефан Д. Ангелов - Head of Stocks trading


 Varchev Traders

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