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- 5/3/2024 -
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Hewlett Packard Enterprise (HPE) Technical Analysis
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| Summary:
| | | Weekly : | | Daily :
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| | It was the negative week for the Hewlett Packard Enterprise (HPE). During the week, the HPE dropped -0.31 points, or -1.81%, and closed at 16.86 on Friday, May 3, 2024. Weekly volume was -24% below average.
 Long-term trend: [See HPE long-term trend chart]
A long-term uptrend had started on March 18, 2020 at 7.43 and reached 20.07 on March 6, 2024. HPE gained -12.64 points, or -170.12%, in 207 weeks. The chart has formed a Rising Wedge chart pattern. The trend support level is at 14.77 and resistance is at 18.69. A Rising Wage is a triangle formation with a noticeable slant to the upside. It represents the loss of an upside momentum on each successive high and has a bearish bias. The Rising wedge usually marks a reversal in an uptrend. In a downtrend a rising wedge is considered to be a continuation pattern. Use the following link to access a Rising Wedge chart pattern help, or use a Technical Stock Screener to see the list of stocks with Rising Wedge pattern in a long-term trend.
 Medium-term trend: [See HPE medium-term trend chart]
A medium-term uptrend had started on September 23, 2022 at 11.90 and reached 20.07 on March 6, 2024. HPE gained -8.17 points, or -68.66%, in 75 weeks. The chart has formed a Rising Channel chart pattern. The trend support level is at 14.77 and resistance is at 19.28. A Rising Channel represents price movement contained between parallel lower (support) and upper (resistance) trend lines. Trading Channeling stocks is one of the most reliable and accurate trading techniques that provide traders with precise entry and exit points as well as stop-losses and take-profit recommendations. Use the following link to access a Rising Channel chart pattern help, or use a Technical Stock Screener to see the list of stocks with Rising Channel pattern in a medium-term trend.
 Weekly Technical Indicators: [See HPE weekly technical indicators chart]
Weekly technical indicators are neutral.
The weekly MACD line is above its signal line since March 1, 2024. This is an indication that the medium-term trend is up. The distance between MACD and the signal line is low and getting smaller. It indicates that the current medium-term uptrend is getting weak. Use the following link to access a MACD help.
 Short-term trend: [See HPE short-term trend chart]
A short-term downtrend had started on April 4, 2024 at 18.76 and reached 16.26 on May 2, 2024. HPE lost 2.50 points, or 13.33%, in 28 days. The chart has formed a Falling Wedge chart pattern.
Daily Technical Indicators: [See HPE daily technical indicators chart]
Daily technical indicators are neutral.
The daily MACD line is below its signal line since April 8, 2024. This is an indication that the short-term trend is down. The distance between MACD and the signal line is low and getting smaller. It indicates that the current short-term downtrend is getting weak.
During the last week, the price has crossed below the 50 Day Moving Average. Such crossover is considered a bearish signal. The moving average crossover signals work better when the stock develops a strong trend, but they are ineffective when the stock is in a trading range. Moving average crossover systems can be effective, but should be used in conjunction with trend patterns, momentum indicators, candlesticks and other aspects of technical analysis. Use the following links to access Moving Average Crossover trading technique, or use the Technical Stock Screener to see the list of stocks with the Moving Average close to the price level.
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| Daily Oscillators |
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| Weekly Oscillators |
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| Trading
Signals |
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| Sector and
Industry |
| Description |
Name |
Rank |
| Sector |
Information Technology |
4 |
| Industry |
Technology Hardware, Storage & Peripherals |
53 |
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| Daily Trend |
| Description |
Value |
| Direction |
Down |
| Chart Pattern |
Falling Wedge |
| High |
18.76 |
| High Date |
04/04/2024 |
| Low |
16.26 |
| Low Date |
05/02/2024 |
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| Weekly Trend |
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| Description |
Value |
| Direction |
Down |
| Chart Pattern |
DownTrend |
| Status |
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| Resistance |
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| Support |
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| High |
20.07 |
| High Date |
03/06/2024 |
| Low |
16.26 |
| Low Date |
05/02/2024 |
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| Description |
Value |
| Direction |
Up |
| Chart Pattern |
Symmetric Triangle |
| Status |
Broken Support |
| Resistance |
17.38 |
| Support |
21.34 |
| Low |
14.47 |
| Low Date |
03/01/2024 |
| High |
20.07 |
| High Date |
03/06/2024 |
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| Quarterly Trend |
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| Description |
Value |
| Direction |
Up |
| Chart Pattern |
Rising Channel |
| Status |
Valid |
| Resistance |
19.28 |
| Support |
14.77 |
| Low |
11.90 |
| Low Date |
09/23/2022 |
| High |
20.07 |
| High Date |
03/06/2024 |
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| Description |
Value |
| Direction |
Up |
| Chart Pattern |
Rising Wedge |
| Status |
Valid |
| Resistance |
18.69 |
| Support |
14.77 |
| Low |
7.43 |
| Low Date |
03/18/2020 |
| High |
20.07 |
| High Date |
03/06/2024 |
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