Thursday, 1 March 2012

HPQ - in trouble


I won't add a long term/weekly chart for HPQ, but suffice to say, the next key levels are $20, 15, and then 10. The 10 goes way back to 2002.

I really don't follow the company much, but considering the market has barely started even a moderate decline, its looking like it has a real problem right now.

Arguably, the place to short would be on some kinda re-test, on that old trend line around the $27 level. Might happen. Its already had quite a nice down cycle, so chasing it, might not be such a great idea.