Hewlett-Packard regains footing - Analysis - 25-11-2022

Hewlett-Packard's stock (HPQ) rose in the intraday levels after executives announced plans to cut the work force by 10% in upcoming years, while sending lower than expected profit directions, with the stock rising 1.80%, or 53 cents in the last session, settling at 17.7 million shares, above 10-day averages of 11.1 million shares. 

Technically, the stock is buoyed by piercing the downward short-term trend line, while trading above the 50-day SMA, with positive signals from the RSI after reaching oversold levels.

Therefore we expect more gains for the stock, targeting the resistance of 33.53, provided the resistance of 30.26 was breached. 

Expected trend for today: Bullish