How to Print Money with HP Inc
- Posted by Greg Harmon
- on October 31st, 2016
HP Inc is well known for their computers and printers. But did you know that you could actually print money with HP? Oh, not using the printer. That would land you in jail for counterfeiting. Rather buy the stock of the company. It is about to race higher. The chart below explains.
Since February, HP Inc ($HPQ) has been in an uptrend. In fact it has risen in a channel. The low in early February was a great entry point in hindsight. But if you missed that it gave you another chance in June. The bounce off of the Brexit low had a quick pop and then a prolonged, continued run higher. That lasted until the beginning of October, when it started lower quickly. But now may be your third chance to get involved.
After touching the rising trend support line a week ago it has started to turn higher. The RSI has also turned up and is quickly approaching the mid line. The MACD is also about to cross up. This is when you want to buy stocks in a boring market, after a pullback and as they start to turn higher. The company reports earnings November 22nd, so there are a couple of weeks before you need to worry about protection. But the options chain for November shows very large open interest at the 15 Strike. This can often act as a magnet. That would be a nice return in just a couple of weeks.
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The information in this blog post represents my own opinions and does not contain a recommendation for any particular security or investment. I or my affiliates may hold positions or other interests in securities mentioned in the Blog, please see my Disclaimer page for my full disclaimer.blog comments powered by Disqus
Gregory W. Harmon CMT, CFA, has traded since 1986 and held senior positions including Head of Global Trading, Head of Product Development, Head of Strategy and Director of Equity. (More)
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