$HPQ with a Bullish outlook following its earnings #Stocks The PEAD projected a Bullish outlook for $HPQ after a Negative over reaction following its earnings release placing the stock in drift C with an expected accuracy of 50%.
0J2E trade ideas
HPQ: DUE FOR A REBOUNDTICKER: HPQ
TIME FRAME: 1D
STRATEGY: LONG
HPQ is at support level.
OVERSOLD
STOCHRSI divergence towards bullish.
FOR EDUCATION PURPOSE ONLY.
PLEASE FOLLOW ME MORE UPDATE.
HPQ: Charts dnt lie?!HP Inc
Intraday - We look to Buy at 28.99 (stop at 26.49)
Short term momentum is bearish. Price action continues to gravitate towards crucial support levels with aggressive selling interest. Support could prove difficult to breakdown. Dip buying offers good risk/reward. Although the anticipated move higher is corrective, it does offer ample risk/reward today.
Our profit targets will be 35.19 and 38.00
Resistance: 36.00 / 41.00 / 46.00
Support: 27.00 / 23.00 / 15.00
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$HPQ with a Bullish outlook following its earnings #Stocks The PEAD projected a Bullish outlook for $HPQ after a Positive Under reaction following its earnings release placing the stock in drift A with an expected accuracy of 66.67%.
HPQ confirms SELL signal HPQ teed up a sell signal followed by retesting the structure of which it had broken to the downside from.
I've identified the ideal entry, stop and target for this current week.
The overall trend remains long, this is the first rollover opportunity below the 200 day SMA.
HPQ - Breakouts The first smaller pattern can be seen to be very similar to the larger
The break out of the smaller formation was successful
The break out of the larger formation (underway) will likely also be successful, and on a grander scale
I would consider both of these patterns ascending triangles
HPQ long term outlook and where to buyWith the break of key moving averages (21w and 34w) a patient investor following the Buffett playbook might want to look into acquiring HPQ for a trend continuation in the long term uptrend of this stock. The question is, as always, where will it bottom? Outlined is the most likely scenario: bottom will be somewhere in between $30 and $31. Invalidation of this idea comes from making a new lower low, shown with a stop loss under $26. The patient investor should expect to reach target of $40 if not much, much more. This corresponds to a >30% move.
This TA is based on the idea of monthly support levels (monthly S1-S3 lines) and demand zones (white candles within our indicators). The prior range from June-October 2021 also provides excellent support. Monthly support levels will change tomorrow with the arrival of a new month but we expect them to simply add additional confluence to this idea when they are printed.
HP Could Be Breaking DownPC maker HP has held its ground all year as the technology sector tumbled, and now it too may be coming under pressure.
The main pattern on today’s chart is support at $34. HPQ gapped above this level following a strong quarterly report in late November. It bounced there in January, March and late May but never had a daily close below it.
This week, the stock closed below $34 not once -- but three times. Has a breakdown begun?
Second, prices also slid below the 200-day simple moving average (SMA) for the first time since October. That may suggest the longer-term trend is fading.
Finally you have the macro backdrop. While earnings have been strong and Warren Buffett recently added HPQ to his holdings, the Federal Reserve’s efforts to slow the economy could hurt PC demand.
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HPQ Round 2 Same as last Idea But as longI'm just catching the waves on the stock.
GAPS
CCI
Support Resistance
Risk Reward More than good.
NYSE:HPQ
HPQ Short From Resistance to Support -> Closing GAP NYSE:HPQ
HPQ Stock is moving between 2 Line for Few months, Opened Gap after Reports, Like in the past.
Buyers Leaving the stock,CCI Change direction.
$HPQ Key levels, Analysis & TargetsHPQ Key levels, Analysis & Targets
Price to down " Wave A "
,Time frame Week born " Bearish Divergence " in MACD & RSI Indicator
RectangleNeutral pattern until a trendline is broken.
Mid Rectangle is 36.34. This can be used as a stop whichever way this breaks.
No recommendation.
Numbers in white over the rectangle are targets to the upside and below are targets to the downside.
HPQ - BULLISH SCENARIOHP Inc. is in consolidation for a quite long time. In the past six months, the $ 40 resistance was tested several times, but the bulls didn`t have enough strength to break it. This time may be different.
If the upcoming test of the resistance in the next couple of days is successful, we may witness new all-time highs with a price target of $ 46.
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HPQ up 100%+ (option price) before August 19thBefore August 19th, we could see an increase of at least 100% (OTM option price).
Using options so time is the only SL.
Strike: 40
Current Mark Price: 1.14
Topped for next 2 yearsMany indications here that HP Inc. has topped throughout 2022. I expect the reaction to their upcoming earnings report on May 31st will be negative, whether or not they report decent earnings. Forward P/E will be revised downward.
Technical Analysis from 2012 shows we have 3 major rallies.
The length of price movement and time extended in each of these rallies are closely related to one another.
This indicates correlation - meaning these are subwaves of a larger wave and are therefore connected and shaped by one another.
A retracement back down to the .382 fib line is a minimum retracement which still indicates a -45% drop from current prices.
Connecting the tops and bottoms forms a nice channel.
We recently overshot the top of the channel and swung back down below indicating a rejection of further price increases.
This "throw over" is a characteristic of end moves.
RSI indicator shows major divergence between waves iii and v of wave 5. Also indicating a top.
Currently HP Inc. is the highest valued tech stock in the computer hardware industry if you use a stock screener like Finviz.com.
I found this very surprising. Again, earnings are on May 31st and the charts are foretelling a selloff.
Currently many investors are hiding in tech stocks that they find "safe".
So ask yourself, is it likely that HP will be selling more computers in 2023 than in 2021 and 2022?.. or is it more likely the opposite?
When is the last time you looked into buying an HP computer or saw an office supplying their staff with HP?
They have nothing that separates them from other computer hardware companies like Apple, Dell, Lenovo, Logitech, etc.
Is there a bullish argument to be made? I am struggling to find one looking into a future of higher prices and lower consumer spending.
Market Cap = 35.57B
Income/Earnings = 6.52B
Effective P/E ratio = 6.16
Forward P/E ratio = 7.90 (currently priced for increasing sales but should be revised downward soon as a result of inflation and future expected returns declining)
*Not financial/investment advice, although I find this to be a very compelling case. I do currently own Put options on this stock. Trade at your own risk.
$HPQ Key levels, Analysis & TargetsHPQ Key levels, Analysis & Targets
Price to down " Wave A "
,and Time frame Week born " Bearish Divergences " in MACD & RSI Indicator
HPQ - Was it Good Bet by Warren Buffett?Following the news about the purchase of 11% HP shares by Warren Buffett in April the price was up by 17%.
Who can question the King but let's have a quick look if it was such a good idea and if the retail investors should follow him or look the opposite way in the short term.
Fundamental indicators:
Revenue and Profits - not consistent for the past 10 years
Profit margin - averaging at circa 7% so it is not impressive either
P/E - very attractive at 6.6% compared to the market average
Liabilities - signs of debt problems with growing liabilities which exceed assets
Technically:
Following the global correction that lasted 20 years and took shape of Contracting Triangle we can observe 5 wave impulse since March 2020
This impulse is at the final stage with completed waves 1 to 4
The 5th wave is forming now in the shape of Ending Diagonal which can be explained by the choppy movement
Once the final wave updates the current maximum of circa $42 there might be a sharp drop in the first corrective wave to the region of $20 to $25 representing 0.382 and 0.5 Fibonacci retracement levels respectively
Given the rising risks of global recession and mediocre performance of the company, was it a good idea for Warren Buffett to get into this deal or is there some insider information that we are missing?
What do you think about this?
Please share your thoughts in the comments and like this idea if you would like to see more stocks analysed using Elliott Waves.
Thanks
HPQ Breakout watchWatching for a potential breakout on this after Buffet news. Would prefer to see a touch at the high and then a pull back and some consolidation before the break. Targets = fib extensions. Not interested anymore below the tan box.
$HPQ with a Bearish outlook following its earnings #Stocks The PEAD projected a Bearish outlook for $HPQ after a Negative Under reaction following its earnings release placing the stock in drift D with an expected accuracy of 66.67%.
HPQ shortHewlett-Packard (HPQ) jumped on news, but it's technicals are out of bounds. So I am short, meaning I will not chase the news reaction and wait for a reasonable pull back. Plus, I would not be surprised if long term holders are trimming their holdings into strength today while others FOMO and chase the stock move. Here's HPQ 4 hour chart with support and resistance levels:
R3 = 37.80
R2 = 37.25
R1 = 36.71
pivot = 36.17
S1 = 35.63
S2 = 35.08
S3 = 34.54
Do your own due diligence, your risk is 100% your responsibility. This is for educational and entertainment purposes only. You win some or you learn some. Consider being charitable with some of your profit to help humankind. Good luck and happy trading friends...
*3x lucky 7s of trading*
7pt Trading compass:
Price action, entry/exit
Volume average/direction
Trend, patterns, momentum
Newsworthy current events
Revenue
Earnings
Balance sheet
7 Common mistakes:
+5% portfolio trades, capital risk management
Beware of analyst's motives
Emotions & Opinions
FOMO : bad timing, the market is ruthless, be shrewd
Lack of planning & discipline
Forgetting restraint
Obdurate repetitive errors, no adaptation
7 Important tools:
Trading View app!, Brokerage UI
Accurate indicators & settings
Wide screen monitor/s
Trading log (pencil & graph paper)
Big, organized desk
Reading books, playing chess
Sorted watch-list
Checkout my indicators:
Fibonacci VIP - volume
Fibonacci MA7 - price
pi RSI - trend momentum
TTC - trend channel
AlertiT - notification
tickerTracker - MFI Oscillator
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What To Expect As Warren Buffet Bought Into HP Inc.Berkshire Hathaway has now bought about 121m shares of HP for roughly $4.2bn. A gap-up occurred immediately breaking away from the bullish wedge. A fill of the gap likely to be a good entry point for the asset in order to key into Mr Warren Buffet's portfolio...
N.B
- Let emotions and sentiments work for you
-ALWAYS Use Proper Risk Management In Your Trades
$HPQ on 1HR Gap Fill to downside$HPQ on 1HR Gap Fill to downside
What are your thoughts?
Thanks,
Kelly
HP (NYSE: $HPQ) Snapped Up By Berkshire Hathaway! 💻HP Inc. provides personal computing and other access devices, imaging and printing products, and related technologies, solutions, and services in the United States and internationally. The company operates through three segments: Personal Systems, Printing, and Corporate Investments. The Personal Systems segment offers commercial and consumer desktop and notebook personal computers, workstations, thin clients, commercial mobility devices, retail point-of-sale systems, displays and peripherals, software, support, and services. The Printing segment provides consumer and commercial printer hardware, supplies, solutions, and services. The Corporate Investments segment is involved in the HP Labs and business incubation, and investment projects. It serves individual consumers, small- and medium-sized businesses, and large enterprises, including customers in the government, health, and education sectors. The company was formerly known as Hewlett-Packard Company and changed its name to HP Inc. in October 2015. HP Inc. was founded in 1939 and is headquartered in Palo Alto, California.
