| scenario | |
|---|---|
| Time frame | Weekly |
| Recommendations | BUY STOP |
| Entry point | 38.40 |
| profit making | 41.30 |
| Stop loss | 37.50 |
| For main levels | 29.00, 33.00, 34.00, 35.00, 36.60, 37.50, 38.00, 41.30, 42.00 |
| Alternative scenario | |
|---|---|
| Recommendations | SELL STOP |
| Entry point | 36.60 |
| profit making | 33.00 |
| Stop loss | 37.50 |
| For main levels | 29.00, 33.00, 34.00, 35.00, 36.60, 37.50, 38.00, 41.30, 42.00 |
Shares of Hewlett-Packard Co., the US information technology giant, are trading at 38.00.
On the daily chart, the price is correcting significantly above the resistance line of the descending channel 35.00-29.00.
On the 4-hour time frame, the uptrend may continue after prices settle above the interim yearly high at 38.00 with a target at 42.00, however, in case of a reversal and decline, a test of the September low at 34.00 is expected.
Technical indicators are ready to support the bullish signal: the fast EMA on the Alligator indicator is above the signal line, moving away from it, and the AO histogram forms bullish bars above the transition level.
Trading Tips
Long deals can be opened after the price rises and fixes above the level of 38.40 with a target of 41.30. Stop loss - 37.50. Execution period: 7 days or more.
Short positions can be opened after the price falls and fixes below the level of 36.60 with a target of 33.00. Stop loss - 37.50.
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