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

By Nick Russo

SmarTrend's candlestick scanner has spotted a possible bullish inside day candle pattern in Hp Inc (NYSE:HPQ) based on the price action in the company's shares. Yesterday's price range of $14.58 and $14.86 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. Traders and investors interested in shares of Hp Inc may want to consider an appropriate entry level in the event a reversal to the upside transpires. It is important to look for confirmation.

Hp Inc share prices have moved between a 52-week high of $23.93 and a 52-week low of $12.54 and closed yesterday at 18% above that low price at $14.79 per share. Over the last five market days, the 200-day moving average (MA) has gone down 0.5% while the 50-day MA has declined 2.3%.

Hp Inc has overhead space with shares priced $14.79, or 41.7% below the average consensus analyst price target of $25.38. The stock should run into initial resistance at its 50-day moving average (MA) of $18.04 and subsequent resistance at its 200-day MA of $19.23.

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.

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: bullish am inside day candle hp inc

Ticker(s): HPQ