Hewlett-Packard (HPQ) at 50
50 is a big number for Hewlett-Packard (HPQ). The stock reversed off that price level three times in 2007 and 2008. The current recovery lifted the tech giant back into the number on Monday. The intraday high for the last four sessions has come within 4-cents.
Sellers tried to take control of the stock after it issued upside guidance on Wednesday, in relation to the 3Com acquisition, but it held up relatively well on Thursday. This leads me to believe it can finally break out when the broad market and tech sector turn higher.
November 13, 2009
• Posted in: TA
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