This Is Why You Should Watch Important Retracement Levels
Somebody told me that
Hewlett Packard (HPQ) suddenly sold off on the news that even the Pope
could not save the company. Who said that? But, it gave us a buy opportunity.
11:38:46
|
Action |
Symbol |
Order Type |
Setup |
Stop |
 Target |
Current Price |
Posted By |
|
Buy |
HPQ | buy stop at 21.16 | pullback | 20.99 | 21.46 | 21.11 |
TK |
Carly Fiorina is stepping down. The
stock gapped up at the open and immediately sellers stepped in. It did not touch
there, but HPQ formed a bullish bar just above the 61.8% retracement level at
11:30 AM. Notice the stochastic is showing a positive divergence. We placed a
buy stop at 21.16.
12:19:58
Selling the rest (+0.22). It is struggling to take out 21.40.
T.Kamada
If you have questions, feel free to
mail them to me.