HP Inc. (HPQ) announced a major restructuring that will include the elimination of 7,000-9,000 jobs from its workforce of 55,000 over the next three years, which the company says ultimately will save money. However, in the short term the restructuring will impact the company's bottom line.
HPQ is our Stock of the Day here at Real Money. Let's check out the charts and indicators.
In this Point and Figure chart of HPQ, below, we can see a possible downside price objective or target of $15.50 or so.