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Hewlett-Packard Co., Technical Analysis

1/12/2023 10:03 AM

Shares of Hewlett-Packard Co., the US information technology giant, are on a corrective trend at 28.80.

On the daily chart, the price is trying to leave the global downward channel with dynamic boundaries at 15.00–28.00 and consolidate above it.

On the four-hour chart, the quotes broke the 50.0% Fibonacci intermediate correction at 26.80 and almost reached the 38.2% Fibonacci underlying correction at 29.90, which will be the main indicator of further growth.

Technical indicators reversed and gave a buy signal: fast EMAs on the Alligator indicator crossed the signal line upwards, and the AO oscillator histogram is forming upward bars in the buying zone.

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