HPQ - still struggling

Whilst the main indexes have seen some significant gains in the last two days, Hewlett-Packard (HPQ) is continuing to show its underlying weakness. The broad trend remains strongly downward, and there is absolutely no sign of this changing any time soon.


HPQ, daily

Summary

With the $15 target achieved, I'm now seeking $10. That is still possible by the end of this year, if the main market falls to pieces, with the SP somewhere in the low 1200s.

HPQ is certainly not on the list of likely bankruptcies, but it does have massive structural problems. Problems that the CEO is failing to address, although Mr Market is certainly reflecting such problems in the declining stock price.

Long term trend remains down, $10 looks a given, the only issue is whether the stock will slip into single digits...and not be able to break back back higher.