Hewlett Packard Daily (23.06.2014) Technical Analysis

23 июн. 2014 г.

The Hewlett Packard (NYSE:HPQ) Daily Diagram Technical Analysis shows the following:

The HPQ share has made a long term development with the support of the trend line (light blue). This support line is over the KUMO, which means that the HPQ is bullish in long term. The weekly diagram shows bullish trend but an overbought RSI. The monthly is on a resistance of the KUMO at $35.

So the first think in mind is that $35 as you can see is a resistance (daily local top too) in monthly diagram. So it is a strong long term resistance. MACD is weakening its bullish force and RSI too. The volume is moderate.

We have no special candlestick pattern. The share is over the KUMO and the Kijun Sen (blue line) too. The last week decline stopped on the Tenkan Sen (green line).

There is no special pattern. The fib from $20.70 to $26.44 shows a 2.618 top at $35.72.

So I think that the critical point is the Tenkan Sen – Kijun Sen – Trend Support Line. If the share reacts on Monday and Thursday, we will have continuation of the bullish trend and have to check the analysis again at $35.72.
But if the share continues to decline (more possibilities) on Monday then the support prices is $33.22 first and $32.69 next.

I think that in short term view we have a change of the trend to bearish towards to KUMO.