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

By Amy Schwartz

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 $9.91 and $10.09 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.

Potential upside of 91.8% exists for Hewlett Packa, based on a current level of $9.93 and analysts' average consensus price target of $19.05. Hewlett Packa shares should first meet resistance at the 50-day moving average (MA) of $9.93 and find additional resistance at the 200-day MA of $13.75.

In the past 52 weeks, shares of Hewlett Packa have traded between a low of $7.43 and a high of $17.59 and are now at $9.93, which is 34% above that low price. Over the past week, the 200-day moving average (MA) has gone down 0.9% while the 50-day MA has declined 3.7%.

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.

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