IS HPQ A BROKEN STOCK PART 3
Posted on August 27, 2010 by trader21 in Broken Stocks Report, GLOBAL CHART ANALYSIS, Trading Plan
IS HPQ A BROKEN STOCK PART 3
Did you sell HPQ at $47 or are you still holding at $37?
Time to buy HPQ or should you sell more?
To read Part 1 click here
In this series we have been profiling HPQ and how it has been a broken stock. We first pointed this out when HPQ was trading at $47 on May 18. We pointed out that HPQ could see levels as much as 20-30% lower in the $36-$39 range.
Like anytime we point out the weaknesses in widely held and widely loved stocks, our analysis was met with much criticism. How dare we speak of lower levels in HPQ! HPQ is a great company! HPQ has solid fundamentals so it can’t go lower! HPQ does this, HPQ does that! Well here we are! We are trading in the low $37 levels. Were you listening or was your head stuck in the sand like a majority of the portfolio managers who use primitive timing models?
Now that we have caught most of the meat of the move and are pushing into some old support levels we would look to take profits on ½ of any short position. We now see the potential over the short term for HPQ to make a move of 10-20% higher and could hit the $40-$43 levels over the near term. The trajectory of HPQ is still lower by as much as another 10-15% but a bounce to these $40-$43 levels over the short term is enough for us to take profits on a portion of the HPQ idea.
To take a trial to our stock service for 7 days for only $4.95 CLICK HERE
Thanks,
www.globalchartanalysis.com
Disclaimer:
Global Chart Analysis and www.betterstockentries.com (“Company”) is not an investment advisory service, nor a registered investment advisor or broker-dealer and does not purport to tell or suggest which securities or currencies customers should buy or sell for themselves. The analysts and employees or affiliates of Company may hold positions in the stocks, currencies or industries discussed here. You understand and acknowledge that there is a very high degree of risk involved in trading securities and/or currencies. The Company, the authors, the publisher, and all affiliates of Company assume no responsibility or liability for your trading and investment results. Factual statements on the Company’s website, or in its publications, are made as of the date stated and are subject to change without notice.
It should not be assumed that the methods, techniques, or indicators presented in these products will be profitable or that they will not result in losses. Past results of any individual trader or trading system published by Company are not indicative of future returns by that trader or system, and are not indicative of future returns which be realized by you. In addition, the indicators, strategies, columns, articles and all other features of Company’s products (collectively, the “Information”) are provided for informational and educational purposes only and should not be construed as investment advice. Examples presented on Company’s website are for educational purposes only. Such set-ups are not solicitations of any order to buy or sell. Accordingly, you should not rely solely on the Information in making any investment. Rather, you should use the Information only as a starting point for doing additional independent research in order to allow you to form your own opinion regarding investments. You should always check with your licensed financial advisor and tax advisor to determine the suitability of any investment.
Hypothetical or simulated performance results have certain inherent limitations. Unlike an actual performance record, simulated results do not represent actual trading and may not be impacted by brokerage and other slippage fees. Also, since the trades have not actually been executed, the results may have under- or over-compensated for the impact, if any, of certain market factors, such as lack of liquidity. Simulated trading programs in general are also subject to the fact that they are designed with the benefit of hindsight. No representation is being made that any account will or is likely to achieve profits or losses similar to those shown.
www.betterstockentries.com
603 S. Prospect Ave
Redondo Beach, CA 90277
