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Hewlett-Packard Co. Technical Analysis
3/29/2023 9:33 AMThe shares of Hewlett-Packard Co., the US IT giant, are on a corrective trend at 27.60.
On the daily chart, the price is holding within the global Triangle pattern with dynamically narrowing boundaries of 27.00–31.00, reaching its support line.
On the four-hour chart, it can be seen that if the local low of March 13 at 27.00 is broken, the main signal will be received for further decline along the resistance line of the global downtrend on the weekly chart. If kept, the quotes may return to the middle of the formation at 29.00.
Technical indicators keep a sell signal: fast EMAs on the Alligator indicator move away from the signal line, and the AO histogram forms new bars, falling in the sell zone.
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