HP’s History With Level 28
Posted: January 12, 2014 Filed under: Analogs, H&S Bottom | Tags: $HPQ, Hewlett-Packard, HP, Meg Whitman
Hewlett Packard (HPQ) almost completed a 2+ year H&S bottom with a neckline at 28, a significant level throughout HP history. Looking back at 2005, a similar pattern formed and the 28 level was also the major resistance point. Furthermore, in 2009, the 28 level provided support and HP bounced off reaching new highs. A decisive close above $28 would complete the pattern and indicate a target of $43.