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Archive
- 11/8/2024 -
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Hewlett-Packard (HPQ) Technical Analysis
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| Summary:
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| | It was a first positive week for the Hewlett-Packard (HPQ). During the week, the HPQ gained 0.54 points, or 1.49%, and closed at 36.82 on Friday, November 8, 2024. Weekly volume was -10% below average.
HPQ is a member of Information Technology Sector. Information Technology is the most overbought sector. Sector/industry rotation is considered a proven strategy to beat the market. Use the following links to find overbought/oversold technical indicators by Sector or by Industry.
 Long-term trend: [See HPQ long-term trend chart]
A long-term downtrend had started on April 7, 2022 at 41.47 and reached 24.08 on October 13, 2022. HPQ lost 17.39 points, or 41.93%, in 27 weeks. The chart has formed a Symmetric Triangle chart pattern. The downtrend resistance line (26.55) is broken. A broken support is considered to be a long-term bullish signal. Use the following links to access Trend Support/Resistance Help, or use the Technical Stock Screener to see the list of stocks with broken trend resistance line in a long-term trend.
 Medium-term trend: [See HPQ medium-term trend chart]
A medium-term uptrend had started on August 7, 2024 at 31.95 and reached 37.97 on October 15, 2024. HPQ gained -6.02 points, or -18.84%, in 9 weeks. The chart has formed a Rising Channel chart pattern. The trend support level is at 34.08 and resistance is at 38.53. 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 HPQ weekly technical indicators chart]
Weekly Williams' Percentage Range is overbought. Use the Technical Stock Screener to see the list of stocks with overbought weekly Williams' Percentage Range. Oscillators are designed to signal a possible trend reversal. They can act as alerts and should be taken in conjunction with other technical analysis tools. Oscillators can be used to confirm other technical signals. Use the following link to access Williams' Percentage Range help.
The weekly MACD line is below its signal line since August 9, 2024. The distance between MACD and the signal line is low, but getting bigger. Use the following link to access a MACD help.
 Short-term trend: [See HPQ short-term trend chart]
A short-term downtrend had started on October 15, 2024 at 37.97 and reached 35.39 on October 31, 2024. HPQ lost 2.58 points, or 6.79%, in 16 days. The chart has formed a Falling Channel chart pattern.
 Daily Technical Indicators: [See HPQ daily technical indicators chart]
Daily technical indicators are neutral.
The daily MACD line is below its signal line since October 21, 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 risen above the Parabolic SAR (stop and reversal). A Parabolic SAR below the price is a bullish signal, and it indicates that momentum is likely to remain in the upward direction. A Parabolic SAR is used as a trailing stop loss for long or short positions. It works best during strong trending periods. Use the following links to access Parabolic SAR Help, or use the Technical Stock Screener to see the list of stocks with the Parabolic SAR close to the price level.
During the last week, the price has moved above the moving average in the center of the Bollinger Bands. The Bollinger Bands are often used with a non-oscillator indicator like chart patterns or a trendline. The signals are considered more reliable if these indicators confirm the recommendation of the Bollinger Bands. Use the following links to access the Bollinger Bands Help, or use the Technical Stock Screener to see the list of stocks with the price above the Upper Bollinger Band or below the Lower Bollinger Band.
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