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Possible Bearish Inside Day Candle Pattern Detected for Hp Inc (NYSE:HPQ)

By Amy Schwartz

SmarTrend's candlestick scanner has spotted a possible bearish inside day candle pattern in Hp Inc (NYSE:HPQ) based on the price action in the company's shares. Yesterday's price range of $19.53 and $19.60 is within the prior day'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 Hp Inc may want to consider a possible hedge in the event a pullback occurs. Look for confirmation in the next few trading days.

HP Inc. provides imaging and printing systems, computing systems, mobile devices, solutions, and services for business and home. The Company offers products which includes laser and inkjet printers, scanners, copiers and faxes, personal computers, workstations, storage solutions, and other computing and printing systems. HP sells its products worldwide.

There is potential upside of 29.2% for shares of Hp Inc based on a current price of $19.64 and an average consensus analyst price target of $25.38. The stock should find initial resistance at its 50-day moving average (MA) of $21.56 and further resistance at its 200-day MA of $23.13.

Hp Inc share prices have moved between a 52-week high of $27.08 and a 52-week low of $18.46 and closed yesterday at 6% above that low price at $19.64 per share. The 200-day and 50-day moving averages have moved 0.23% lower and 0.38% lower over the past week, respectively.

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

Keywords: bearish am inside day candle hp inc

Ticker(s): HPQ