HP to $60
Updated
Overview
This is a very brief price prediction for HP that will require further review, however, I found the opportunity too affordable to pass up and wanted to share my thoughts. Bottom line: the call options are very cheap and HPQ's chart screams potential for a lucrative trade.
Trading Pattern
HP (
HPQ ) has formed a bullish flag on the 1D chart and it appears close to breaking out as the descending wedge is completely developed.
Technical Indicators
MFI is approaching oversold territory while MACD has a sharp positive slope above its signal line.
This is a very brief price prediction for HP that will require further review, however, I found the opportunity too affordable to pass up and wanted to share my thoughts. Bottom line: the call options are very cheap and HPQ's chart screams potential for a lucrative trade.
Trading Pattern
HP (
HPQ ) has formed a bullish flag on the 1D chart and it appears close to breaking out as the descending wedge is completely developed. Technical Indicators
MFI is approaching oversold territory while MACD has a sharp positive slope above its signal line.
Note
Timing is everything and my original sentiments were overly eager. A $60 price target is still on the table but most likely not until 2025.Big picture: HPQ is currently in a macro-bull flag that's been in development since April 2021.
Small picture: HPQ is undergoing a bear flag that may take it back to the $26.50 share price by June 2024. At this level, a larger double bottom pattern is set up and presents a possible buying opportunity.
Disclaimer
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