Following the news about the purchase of 11% HP shares by Warren Buffett in April the price was up by 17%.
Who can question the King but let's have a quick look if it was such a good idea and if the retail investors should follow him or look the opposite way in the short term.
Fundamental indicators:
Revenue and Profits - not consistent for the past 10...
Watching for a potential breakout on this after Buffet news. Would prefer to see a touch at the high and then a pull back and some consolidation before the break. Targets = fib extensions. Not interested anymore below the tan box.
The PEAD projected a Bearish outlook for $HPQ after a Negative Under reaction following its earnings release placing the stock in drift D with an expected accuracy of 66.67%.
Hewlett-Packard (HPQ) jumped on news, but it's technicals are out of bounds. So I am short, meaning I will not chase the news reaction and wait for a reasonable pull back. Plus, I would not be surprised if long term holders are trimming their holdings into strength today while others FOMO and chase the stock move. Here's HPQ 4 hour chart with support and...
Berkshire Hathaway has now bought about 121m shares of HP for roughly $4.2bn. A gap-up occurred immediately breaking away from the bullish wedge. A fill of the gap likely to be a good entry point for the asset in order to key into Mr Warren Buffet's portfolio...
N.B
- Let emotions and sentiments work for you
-ALWAYS Use Proper Risk Management In Your Trades
HP Inc. provides personal computing and other access devices, imaging and printing products, and related technologies, solutions, and services in the United States and internationally. The company operates through three segments: Personal Systems, Printing, and Corporate Investments. The Personal Systems segment offers commercial and consumer desktop and notebook...
HPQ Made a New All Time High on Friday
Price well above 200 DMA
Well defined rectangle pattern
Breakout happened with average volume, so want to see follow through right away
Based on historical movement, the trough could occur anywhere in the larger red box. The final targets are in the green boxes. The pending top should occur within the larger green box as has been the historical case. Half of all movement has ended in the smaller green box. In this instance, the signal indicated BUY on March 11, 2022 with a closing price of...
Technicals are neutral. Fundamentals are great.
Earnings growth of 11% (8% forecasted) with P/E at 9.70. Historic norm is 11.70, so it historically trades pretty cheap.
Dividend yield of 2.65% is about in line with average.
7.20 P/OCF versus Normal P/OCF of 8.00. Small decline in OCF expected, but growth of EPS is better imo.
PT $52
Strong upwardly momentum converting to price changes to the upside. This is already good on it's own. We are betting on an upward zigzag, leaving us to complete the last leg. Patience is key, patience is vital to profitable successes. Let trades come to you. Never force the market, you will lose.
We are not in the business of getting every prediction right, no...
* Excellent earnings year over year
* Strong up trend
* High 3-month relative strength of 2.29 in the Tech sector
* Breaking out of a ~10 month base
* Clean break with higher than average volume
* Currently 2.83% above the broken level
* Maximum probable ROI 44.94%
Trade Idea:
* You can enter now if you don't mind a little volatility and want to catch the...
$HPQ Cup & Handle should have upward movement left, but hitting ATH causes concern.
Would like to see consolidation above $38.50 to confirm support.
Long Trigger $39.85 > Price Target $43 (based on C&H depth)
Short Trigger $38.29 > Price Target $35.84 (next Fib support)
HPQ got rejected at the channel median. HPQ CEO sold part of his holdings on 3 Jan.
Elliott:
We are able to count a complete 5-waves move up, suggesting the trend could reverse soon, or has reversed already.
Oscillators:
The Stochastic is overbought and the RSI shows a bearish divergence.
Geometry:
The channel median provided resistance on 3 Dec and might do so...
