Generally the wedge struggled through the whole of 2017 to breakout, and it finally did to the upside.
To me, here late longs are getting trapped and the stock could have a reversal from their exit selling pressure & entering shorts.
Let's see if I entered a bear trap or this is indeed a devil's advocate move; I could be totally wrong.
Do as you may now Mr....
HPE has retraced nearly all of its September 12 - October 2 rise, and is now showing solid signs of reversing off its low. Note that earnings come out after the close on Tuesday.
Open position after crossing EMA50 days.
- Policy defined: Entrance the second day after crossing EMA50. Condition: The candle must be above the EMA50 at the end of the 2nd day, then the position is opened.
- For 1 year and a half HPE crossed upwards the trend line 7 times giving a positive entrance in 6 occasions.
- Tight stop loss can be defined
- Risk reward...
Another price with interesting features to go long: it stopped at key resistance, the RSI just came out of oversold and the last trading day has seen higher volume
this trend was very nice, but looks like it's over now. on pre-market it trades below good support 22.40, if stays there i'll be looking for shorts with stop just avove and targets at 21.80/21.40/21.20
It is a surprised for me since HP started their Enterprise group. I was with HP before as a software consultant and a lot of things change since then. Nevertheles, HPE has a great opportunity for investors and traders alike. Here, I am going to take long when the price touches te Daily demand. Price action seems to be very bullish for this product.
