Hewlett-Packard smashes through a pivotal resistance - Analysis - 27-05-2016

Hewlett-Packard's stock surged in the intraday levels, scoring a hefty new profit of 6.89% in the last session, or 0.84 points, with the stock smashing through the pivotal resistance of 12.63, representing the ratio 38.2% of Fibonacci retracement levels for a descending wave in the medium term (from 18.66 to 8.91), with positive support from the SMA for the last 50 days period. 

Therefore we expect more gains to come for the stock, targeting the resistance of 13.78, which represents the ratio 50% of the same retracement levels mentioned earlier.