Hewlett-Packard tries to vent off overbought saturation - Analysis - 16-08-2018

Hewlett-Packard's stock fell amid attempts to vent off overbought saturation in the Relative Strength Index, while gathering momentum to help it rise anew, and drawing support from a positive pattern that formed in the short term, the Symmetrical Triangle pattern. with positive support from the 50-day SMA, coupled with the dominance of the main upward trend in the medium and short terms. 

Therefore we expect the stock to return higher, as long as the support of 23.07 holds on, targeting the resistance of 24.69.