Hewlett-Packard (HPQ) Approaches New Downside Target of $16.76
Shares of Hewlett-Packard (NYSE:HPQ) have bearishly opened below the pivot of $17.03 today and have reached the first support level of $16.89. Investors may be interested in a cross of the next downside pivot targets of $16.76 and $16.49.
Hewlett-Packard (NYSE:HPQ) is currently priced 19.3% above its average consensus analyst price target of $13.57. The stock should hit resistance at its 200-day moving average (MA) of $18.05, as well as support at its 50-day MA of $14.57.
In the past 52 weeks, Hewlett-Packard share prices have been bracketed by a low of $11.35 and a high of $30.00 and are now at $16.82, 48% above that low price. Over the last five market days, the 200-day moving average (MA) has gone down 0.5% while the 50-day MA has advanced 1.5%.
SmarTrend recommended that subscribers consider buying shares of Hewlett-Packard on December 10th, 2012 as our proprietary SmarTrend analytics indicated a new Uptrend was in progress when shares hit $14.15. Since that recommendation, shares of Hewlett-Packard have risen 20.3%. We continue to monitor HPQ for any potential shift so investors can protect gains and will alert SmarTrend subscribers immediately.
Keywords: pivot alerts Hewlett-Packard