T2 (final target) has been hit & exceeded for a 12%+ gain on the earnings disappointment induced gap today. Therefore, consider booking full profits as HPQ will now be moved to the Completed Trades category.
HPQ is currently indicated to gap below the first target (T1 at 24.16) as the stock is trading down sharply in the pre-market session following their quarterly earning release and outlook. As the first target, which is/was also support, has been bypassed so far with the stock currently trading at 23.35 as I type, the [...]
HPQ currently offers an objective short entry on the breakdown below this rising wedge pattern. A reaction at the 25.50 support level is likely but should be fleeting. T1 (24.16) is currently my preferred target at this time although that may change soon depending how the market trades over the next few sessions.
I spent some time pouring over the charts last night looking for trade ideas. In doing so, I came up with numerous candidates, both long and short. Some of these trade ideas are already listed as Active Trades on the site and/or Trade Setups while many are not. I'm going to start with the short [...]
I'm going to run out for a bit & just figured that I share my thoughts on the previously stopped out HPQ short trade. I'm still watching for a break below that one minute uptrend line. Since the last post, HPQ had a sharp spike to new highs, which was more than likely the last [...]
HPQ looks like an objective short here around 19.00 as it has made an very over-extending run, gapping today right into a solid resistance level marked by several previous gaps. Trades like this should be considered aggressive as my style (which most traders deem impossible) often consists of catching tops and bottoms. For example, my [...]