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

By James Quinn

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. Today's price range of $20.62 and $20.67 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 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.

Hp Inc (NYSE:HPQ) has potential upside of 22.8% based on a current price of $20.67 and analysts' consensus price target of $25.38. The stock should find resistance at its 200-day moving average (MA) of $21.81, as well as support at its 50-day MA of $19.67.

In the past 52 weeks, Hp Inc share prices have been bracketed by a low of $18.06 and a high of $27.08 and are now at $20.67, 14% above that low price. In the last five trading sessions, the 50-day moving average (MA) has climbed 0.3% while the 200-day MA has slid 0.4%.

SmarTrend is monitoring the recent change of momentum in Hp Inc. Please refer to our Company Overview for the results of our proprietary technical indicators that have been scanning shares of Hp Inc in search of a potential trend change.

Keywords: bearish inside day candle hp inc

Ticker(s): HPQ