Hewlett-Packard collects profits - Analysis - 27-10-2021

Hewlett-Packard's stock (HPQ) declined 1.6% in the last session after the resistance of 30.88 held on while collecting recent profits, and gathering momentum to pierce that resistance, while venting off overbought saturation in the RSI, with positive support from the 50-day SMA, while hurt by exiting a descending correctional price channel that guided recent short-term trading.

Therefore we expect the stock to return higher, targeting the resistance of 33.00, especially if the resistance of 30.88 was breached.

Expected trend for today: Bullish