HP Inc. (HPQ) is scheduled to report their latest quarterly numbers after the close of trading Tuesday. The Palo Alto based company develops personal computers, printers and 3D printing solutions.
Let's check out the charts and indicators of HPQ.
In this daily bar chart of HPQ, below, I can see that prices have firmed above the rising 50-day moving average line and above the still declining 200-day line. The trading volume looks like it has picked up since early March.
The On-Balance-Volume (OBV) line has been steady since October. The Moving Average Convergence Divergence (MACD) oscillator turned bullish in early April when it moved above the zero line.
In this weekly Japanese candlestick chart of HPQ, below, I see a positive chart picture. Prices are trading above the 40-week moving average line. The 40-week average still needs to bottom and turn positive. The most recent candle is bullish (white real body) and closed above the upper shadow in April to put the bulls in charge again.
The weekly OBV line has been improving the past three months and is close to making a new high to foreshadow price gains, I believe. The MACD oscillator is edging above the zero line for an outright buy signal.
In this daily Point and Figure chart of HPQ, below, I can see a potential upside price target in the $36 area.
In this second Point and Figure chart of HPQ, below, I used weekly price data with a five box reversal filter. Here the software is projecting a price target in the $41 area.
Bottom line strategy: I have no special knowledge of what HPQ will tell shareholders this evening but the charts and indicators favor an upside move from here with targets of $36 and $41.
