Stock Analysis: Hewlett-Packard Co. (HPQ)
Hewlett-Packard (HPQ) is the largest information technology company in the world and produces printers, computers, and servers. HPQ has reached record levels since the dot com bust.
Stock Market For Beginners:
- HPQ fluctuated in a trading range in July and August and has recently broken through resistance at the 49 level.
- Look for a strong move up on the breakout and for support at 49.
HPQ is a great company, and the stock will do well over the long run. I do worry some about it in the very short term. The fears of an economic recession could certainly do some damage to the stock if they continue to grow.
As of 12/10/07 it looks as if HPQ is still in an uptrend. However it looks as if short term weakness may put some pressure and a level of support will be tested. I find the formula great for analyzing any market.
Uptrend
HEWLETT-PACKARD CO (NYSE:HPQ)
Smart Scan Chart Analysis is showing some near term weakness. However, this market remains in the confines of a longer term uptrend Uptrend with tight money management stops.
Based on a pre-defined weighted trend formula for chart analysis, HPQ scored +75 on a scale from -100 (strong downtrend) to +100 (strong uptrend):
-10 Last Hour Close Below 5 hour Moving Average
-15 New 3 Day Low on Tuesday
+20 Last Price Above 20 Day Moving Average
+25 New 3 Week High, Week Ending December 8th
+30 New 3 Month High in November
+75 Total Score
Happy holidays & great trading,
Lindsay at TradersBlog