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Hewlett-Packard Co., Technical Analysis

2/16/2023 10:09 AM

The shares of Hewlett-Packard Co., the US information technology giant, are on a corrective trend at 30.54.

On the daily chart, the price is holding above the resistance line of the global downward corridor with dynamic boundaries at 27.00–19.00, testing the early November high at 31.00.

The four-hour chart of the asset shows that if the local maximum of November 15 at 31.00 is broken, another signal to continue the growth will be received, and the next resistance will be at 34.00, and in the opposite case, quotes may roll back to the resistance line of the recently passed channel around 28.00.

Technical indicators gave a buy signal: fast EMAs on the Alligator indicator are moving away from the signal line, and the AO histogram is forming new bars, rising in the buying zone.

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