HPQ, daily
Summary
HPQ is now up around 40% since the mid November lows - when sp' was 1343. With the market up around 12%, HPQ sure is outpacing the broader market by a factor of 3.
Very impressive indeed,
Yet, there remain serious structural issues with the company. Does it really have the management and leadership necessary? I have to say, no way, but...maybe HPQ will be still okay despite incompetence at the helm.
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From a price perspective, there is good channel support around $16, and the 50 day MA in the low 15s. Clearly, this stock broke the bearish trend - that stretches way back into early 2012, with the little snap higher at the start of this year.
HPQ will be one to watch. Q1 earnings in April will be particularly interesting to see for this technological behemoth.
