HPQ, daily
Summary
We now have one of the secondary targets being hit.. $15. With the close <15, I certainly believe $10 is going to also be hit, probably within the next 2 months. If the main indexes can manage to rally into Christmas though - with SP'1550, then I'd delay that $10 target until late Spring 2013.
So...what now for HPQ?
I certainly would never suggest the company is in danger of going under. No, that won't happen, but as I've noted a few times over the past few months, it is entirely lacking in leadership (the CEO is entirely incompetent, and the market KNOWS it!).
Given a few years, and a decent young CEO who understands how to operate a smartphone and how to program a toaster, I'd guess HPQ will be a great long term recovery stock.
..that time is certainly not yet though!
First, lets see HPQ cycle lower to hit the big $10.
*there was one analyst on clown network'1 today, touting HPQ @ $7. I could envision that, but that certainly seems like something to see in the latter half of 2013.
