Hewlett Packard Daily (11.08.2014) Technical Analysis TrainingThe Hewlett Packard (NYSE:HPQ) Daily Diagram Technical Analysis Training shows the following:
The HPQ share has made a long term development with the support of the trend line (light blue) for 7 months. This support line is over the KUMO, which means that the HPQ is bullish in long term (from January 2014). The weekly diagram shows bullish trend. The monthly has got itself into the KUMO beating the $35 resistance.
So the first think in mind is that HPQ is bullish for $35.72 as a price target of 2.618 of fib for 2nd time. MACD is turning bullish and RSI too. The volume is the usual.
We have no special candlestick pattern. The share is above the KUMO and above the Kijun Sen (blue line) and the Tenkan Sen (light green line) too (it has to close above it today otherwise it will make some consolidations).
There is no special pattern. The fib from $20.66 to $26.44 shows a 2.618 top at $35.78.
Long for 35.78 first. Stop loss only under the Kijun Sen.