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Hewlett-Packard Co., Technical Analysis

8/19/2022 11:29 AM

The shares of Hewlett-Packard Co., an American IT company providing hardware and software services, are moving within a corrective trend around 35.20.

On the daily chart, the price returned to the wide sideways channel 34.00–40.00 and is trying to continue growing towards its upper border.

On the four-hour chart, a local upward impulse develops in the form of a narrow corridor with dynamic boundaries at 34.00–36.00 and keeping quotes in this range temporarily excludes the possibility of a reverse exit from the global channel.

Technical indicators keep a stable buy signal: fast EMAs on the Alligator indicator expand the range of fluctuations upwards, and the AO oscillator histogram forms rising bars.

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