On Friday night Jim Cramer laid out his game plan for the week during his Mad Money program. One of the companies he was bullish on was HP Inc. (HPQ) , which reports its earnings after the close Monday.
Let's check out the charts now to see how much the broader market weakness could impact the indicators of HPQ.
In the daily bar chart of HPQ, below, we can see that prices have begun trading Monday to the downside. Prices are still above the rising 50-day moving average line, which intersects closer to $21.
The daily On-Balance-Volume (OBV) line has been strong since it bottomed out in September/October and tells us that buyers of HPQ have been more aggressive. Hopefully these aggressive buyers largely stay with their positions and do not make a hasty exit from their long positions.
The Moving Average Convergence Divergence (MACD) oscillator is close to turning down to a take profits sell signal.