HPQ's Full Of Cups And Handles
Dragonfly Capital | Nov 20, 2014 04:02PM ET
It seems that Hewlett-Packard (NYSE:HPQ) CEO Meg Whitman must be a tea drinker. I say this because when I look at HPQ's weekly chart, I see a lot of cups and handles. Take a look.
The chart above shows 4 nested cup-and-handle patterns, with the potential for a fifth if it can get to 48. The latest one in yellow carries a target to 62 on a break above 37. The target for the green one that is active is to 42, while the other two have already met their targets.
With the MACD about to cross up and the RSI bullish and rising, the prognosis for this one triggering is good as well.
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