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Bearish Moving Average Cross by Hewlett-Packard (HPQ)

By Nick Russo

Today, shares of Hewlett-Packard (NYSE:HPQ) have crossed bearishly below their 10-day moving average of $13.18 on a volume of 5.8 million shares. This may provide swing traders with an opportunity for a short position, as such a crossover often suggests lower prices in the near term.

Hewlett-Packard share prices have moved between a 52-week high of $16.16 and a 52-week low of $8.91 and are now trading 44% above that low price at $12.86 per share. Over the last five market days, the 200-day moving average (MA) has gone down 0.3% while the 50-day MA has advanced 0.8%.

SmarTrend recommended that subscribers consider buying shares of Hewlett-Packard on May 26th, 2016 as our proprietary SmarTrend analytics indicated a new Uptrend was in progress when shares hit $12.80. Since that recommendation, shares of Hewlett-Packard have risen 4.1%. We continue to monitor HPQ for any potential shift so investors can protect gains and will alert SmarTrend subscribers immediately.

Keywords: moving crosses Hewlett-Packard

Ticker(s): HPQ