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Hewlett-Packard Co (HPQ) – Short @ $28.89 with a Stop @ $30.01 and a Target of $26.00
A picture perfect sell opportunity off the declining 20-period moving average. Notice the counter-trend bounce on declining volume.
Filed Under: Stocks to Watch
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HPQ dipped down to $28.90, $0.01 away from our entry price. We’ll keep the potential entry order open unless $30.01 is violated first.
Revising target to $28.00 (gap support).