HPQ Stock Tickeron detected bearish Stock Pattern: Cup-and-Handle Inverse on June 17, 2024

A.I.dvisor
at Tickeron.com
06/20/24
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Cup-and-Handle Inverse
HPQ - HP
Emerged: 06/17/24
Breakout: $35.43
Price: $35.93
Target price: $34.39
A.I.dvisor detected a bearish Cup-and-Handle Inverse pattern for HPQ stock. This pattern was detected on June 17, 2024 . The odds of reaching the target price are 6. The Inverted Cup-and-Handle (sometimes called Inverted Cup-and-Holder) pattern forms when prices rise then decline to create an upside-down “U”like shape (1, 2, 3, also known as the Cup), followed by a shorter relatively straight price increase that bounces from the right lip (from 3 to 4, creating the Handle). Consider selling the security short or buying a put option at the downward breakout level. The confirmation move is the breakout of the price below the right cup lip.
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General Information

a developer of imaging and printing systems, computing systems and information technology solutions

Industry ComputerPeripherals

Profile
Fundamentals
Details
Industry
Computer Processing Hardware
Address
1501 Page Mill Road
Phone
+1 650 857-1501
Employees
58000
Web
https://www.hp.com