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Hewlett-Packard Co. Market Update

11/28/2022 3:02 PM

The price of stocks of the American giant in the field of information technology Hewlett-Packard Co. continues to move in a corrective trend and is at around 30.15.

At the end of last week, the company published a financial report, according to which for the full year net income per share was 3.05 dollars, which is lower than the previously forecast of 3.46 dollars, and diluted earnings per share reached 4.08 dollars, which exceeded the expected 4.02 dollars. Net revenue was recorded at 63.0B dollars, which is 0.8% less than last year. In Q4, non-GAAP diluted earnings were 0.85 dollars, which is higher than the forecast of 0.79 dollars, and net revenue was 14.8B dollars, which was 11.2% lower than the results of the previous year.

Also in Q4, Hewlett-Packard Co. returned 1.0B dollars to shareholders in the form of a buyback program, slightly reducing its pace, and dividends, and for the whole year the figure was 5.3B dollars. As for the dividends, they were increased by 5.0% to 0.2625 dollars per share and will be sent to investors on January 4, 2023. 

On the daily chart, the shares are still trading above the resistance line of the narrow descending channel, preparing for a reversal.

Technical indicators continue to be in the state of a stable buy signal: the fast EMAs of the alligator indicator expand the range of fluctuations, and the histogram of the AO oscillator is in the buy zone, forming new ascending bars.   

Support levels: 28.50, 24.60. | Resistance levels: 31.00, 34.40.

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