$HPQ is in a downtrend since its latest peak in Jan 2015.
The stock completed a 61.8 Fib retracement and it is now testing a major structure support near the psychological level of 10$
RSI (weekly) shows bullish divergence and in the daily chart we see that the price reached 127 Fib extension level that is considered to be a profit taking target (currently for bears).
9-10$ is the weekly reversal zone to monitor in $HPQ over the next few weeks.
Potential targets - 11$, 11.5$ and 12$ (200 weeks SMA line)
Tomer, The MarketZone
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The stock completed a 61.8 Fib retracement and it is now testing a major structure support near the psychological level of 10$
RSI (weekly) shows bullish divergence and in the daily chart we see that the price reached 127 Fib extension level that is considered to be a profit taking target (currently for bears).
9-10$ is the weekly reversal zone to monitor in $HPQ over the next few weeks.
Potential targets - 11$, 11.5$ and 12$ (200 weeks SMA line)
Tomer, The MarketZone
This analysis is part of the Weekly Markets Analysis newsletters
To read more interesting technical reviews for the week goo.gl/gg59or
To subscribe to the newsletters - goo.gl/HXjCPV
Follow my blog - goo.gl/78KZsl
Subscribe to my Youtube channel - goo.gl/q8dbyT