Hewlett Packard Enterprise: Stock To Move Towards $16.5
| May 31, 2022 05:25AM ET
When we look at the Hewlett Packard Enterprise (NYSE:HPE) chart, we can see its rise from the $14 range on the May 21 and its slow, gradual climb firstly to the $14.5 on the 25th and then to the $15.15 range on the 26th, reflecting the overall short-term market rally starting at the beginning of last week which might have signaled a reversal.
On Friday, it managed to reach as high as $16 and closed the day in the $15.77 range. There was no trading session due to the Memorial Day holiday in the US. It was last found trading at the $15.77 range, with $16 acting as temporary closest resistance and $15 as a closest temporary support.
Hewlett Packard Enterprise has scheduled a quarterly earnings announcement today. If both EPS and Revenue expectations are surpassed, we could expect the price to move towards $17.
Today we can expect a move towards the $16.5 extending the short-term upward trend. If, however, it doesn’t manage to hold on to the current level, then a move towards and below the $15 closest support, possibly in the $14 range, can be expected.
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