HEWLETT-PACKARD : SHORT TERM LONGOverall major trend is down since 2010 with current uptrend near a very strong downward trendline marked in RED.
Price will oscillate within the blue channel and if this holds true, short-term trend is bullish up till the red trendline. If the breaks this line, and price is contained within the blue channel, it will move to the WL-1.
The angle of price frequency is defined by the black pitchfork abit steep so any break above the red trendline may be unceremoniously halted and pushed back by the green 150% fibo trendline. This may push the price downwards testing the red trendline as support in an atypical "Kiss Goodbye" move before it advances to the black 150% fibo of the black pitchfork.
