HP looks like a terrific stock to own for me. I would like to get in asap, but earnings on Friday keeps me on the sidelines.
The indicators are not strong on the daily chart, but on the 4 hour they are like perfect crystalline formations. I had to zoom down and do my analysis from there. Am I breaking the rules a little? Yes, I am.
Speaking of breaking the rules, I may be drawing the Fibonacci wantingly. I could see that the current correction looked like it was at or near 50%, which is a documented level, so I included it to illustrate what I was seeing.
The structure it has come down to looks fantastic. It's no wonder price is attracted to the area. Clearly buyers and sellers thought this was a fair price. I think buyers want to see if they can get a little more out of it, and frankly, if they do I think they will be coming out ahead.
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Price action surrounding earnings, to me, is basically random, so I will wait to see if there are any opportunities to get long after the report.
The indicators are not strong on the daily chart, but on the 4 hour they are like perfect crystalline formations. I had to zoom down and do my analysis from there. Am I breaking the rules a little? Yes, I am.
Speaking of breaking the rules, I may be drawing the Fibonacci wantingly. I could see that the current correction looked like it was at or near 50%, which is a documented level, so I included it to illustrate what I was seeing.
The structure it has come down to looks fantastic. It's no wonder price is attracted to the area. Clearly buyers and sellers thought this was a fair price. I think buyers want to see if they can get a little more out of it, and frankly, if they do I think they will be coming out ahead.
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Price action surrounding earnings, to me, is basically random, so I will wait to see if there are any opportunities to get long after the report.