www.varchev.com

Hewlett Packard – despite the negativity surrounding the market, the trend remains ascending

We see that the long-term upward trend is still in place. We have higher peaks and higher bottoms. A serious correction to the main diagonal support shaping the channel makes us wonder if there is time for purchases. The price has already passed under SMA 200 and FiBo 23.6 – indicating that the mid-term movement may change to a short one. We see the shaping of a triangle, a figure breakout, and the price is now back for a breakthrough test. Moving under this support will mean that the bulls have lost their power and the medium-term movement has gone short. The TD Demarker Technical Indicator is still above the average base level of 44.5, a bull-controlled zone. If we take into account everything that has been said so far, the long positions are making more logical. However, in order to minimize the risk, it is good to wait for the next horizontal support and the formation of a price action signal to give force to the upward movement.



Read more:
RECCOMEND WAS THIS POST USEFUL FOR YOU?
If you think, we can improve that section,
please comment. Your oppinion is imortant for us.
WARNING: Any news, opinions, research, data or other information contained within this website is provided as general market commentary and does not constitute investment or trading advice. Varchev Finance Ltd. expressly disclaims any liability for any lost principal or profits which may arise directly or indirectly from the use of or reliance on such information. Varchev Finance Ltd. may provide information, quotes, references and links to or from other sites and blogs and other sources of economic and market information as an educational service to its clients and prospects and does not endorse the opinions or recommendations of the sites, blogs or other sources of information.
Varchev Finance