Nov. 15 at 8:32 AM
$HPQ: The stock closed at
$24.53, near the 60D low of
$24.47, indicating potential support. The RSI at 24.28 suggests the stock is oversold, which may lead to a reversal. The MA30 at
$26.88 and MA50 at
$27.22 are above the current price, indicating resistance levels to watch. Given the proximity to the 60D low and the oversold RSI, there is a bullish bias for a potential short-term bounce.
Suggested entry:
$24.60, just above the last close to confirm upward momentum. Stop loss:
$24.40, below the recent low to manage risk.
Targets: First target at
$26.00, aligning with the MA30, and a second target at
$26.80, just below the MA50. This plan allows for a favorable risk-reward ratio while capitalizing on the potential reversal.
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