The Hewlett Packard (NYSE:HPQ) Daily Diagram Technical Analysis Training 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 bearish and RSI is neutral. The volume is moderate.
We have a bullish engulfing candlestick pattern. The share is above the KUMO and under the Kijun Sen (blue line) too. Today the share fight with the Tenkan Sen (light green line).
There is no special pattern. The fib from $20.70 to $26.44 shows a 2.618 top at $35.72.
Today the share breach again above the support line. So I think that the bullish engulfing candlestick pattern and the breach of the support line shows that uptrend is back.
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 bearish and RSI is neutral. The volume is moderate.
We have a bullish engulfing candlestick pattern. The share is above the KUMO and under the Kijun Sen (blue line) too. Today the share fight with the Tenkan Sen (light green line).
There is no special pattern. The fib from $20.70 to $26.44 shows a 2.618 top at $35.72.
Today the share breach again above the support line. So I think that the bullish engulfing candlestick pattern and the breach of the support line shows that uptrend is back.
