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Possible Bearish Inside Day Candle Pattern Detected for Hewlett Packa (NYSE:HPE)

By David Diaz

SmarTrend's candlestick scanner has spotted a possible bearish inside day candle pattern in Hewlett Packa (NYSE:HPE) based on the price action in the company's shares. Today's price range of $15.08 and $15.19 is within yesterday's high and low of the day. This trading action often signifies indecision by bulls and bears to drive prices higher or lower and often implies a possible change in trend. Owners of Hewlett Packa may want to consider a possible hedge in the event a pullback occurs. Look for confirmation in the next few trading days.

Hewlett Packard Enterprise Company provides information technology solutions. The Company offers enterprise security, analytics and data management, applications development and testing, data center care, cloud consulting, and business process services. Hewlett Packard Enterprise serves customers worldwide.

There is potential upside of 25.5% for shares of Hewlett Packa based on a current price of $15.18 and an average consensus analyst price target of $19.05. The stock should find initial resistance at its 200-day moving average (MA) of $15.53 and further resistance at its 50-day MA of $15.70.

Over the past year, Hewlett Packa has traded in a range of $12.09 to $17.74 and is now at $15.18, 26% above that low. Over the last five market days, the 200-day moving average (MA) has remained constant while the 50-day MA has declined 0.2%.

SmarTrend is tracking the current trend status for Hewlett Packa and will alert subscribers who have HPE in their portfolio or watchlist when shares have changed trend direction.

Keywords: bearish inside day candle hewlett packa

Ticker(s): HPE