Market Technical View is a blog that mostly concerns the technical analysis of different financial instruments like indices, commodities, stocks, ETFs and currencies.

All the posts are structured in 3 main chapters that can be found in Content, in the upper right-hand corner of the blog.

Market perspective. The technical approach consists of chart patterns and important support/resistance zones. The purpose of this section is to give directions of the price on short and medium term (a few days up to a few months).

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Friday, February 24, 2012

Hewlett-Packard (HPQ) bullish channel broke 2012.02.24

A daily chart of the Hewlett-Packard Company  shows a bearish trend in the last years.

Moreover, the bullish channel between August 2010 and February 2011 signaled a continuing bear trend as soon as the price broke below its lower border in late February.

The same scenario seems to take place now: the bullish channel started in late September 2011 was broke yesterday and the bearish trend has a high probability of continuation.


Posted by Adrian Filip at 3:45 PM
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