The stocks of Hewlett-Packard Co., the US information technology giant, correct at 26.60.
On the daily chart, the instrument trades in a global downward channel with dynamic boundaries 17.00–29.00.
The four-hour chart shows that the reversal has already fully formed, as evidenced by the consolidation of quotes below the low around 27.60. Since all the necessary markers of decline have already been received, the immediate target for the movement is the year’s low of 24.10.
Technical indicators reversed and gave a sell signal: fast EMAs on the Alligator indicator crossed the signal line downwards, and the AO oscillator histogram is forming downward bars in the sell zone.