HPQ closes within previous day's range
HP Inc. (HPQ) Technical Analysis Report for Jan 15, 2020 | by Techniquant Editorial Team
HPQ ended Wednesday at 21.42 edging higher $0.02 (0.09%) on high volume, slightly underperforming the S&P 500 (0.19%). Closing within the prior day's range, prices failed to decisively move beyond the previous day's trading range.
Daily Candlestick Chart (HPQ as at Jan 15, 2020):
Wednesday's trading range has been $0.30 (1.41%), that's above the last trading month's daily average range of $0.26. Weekly volatility is also higher, being slightly above the market's average weekly trading range. The longer-term, monthly volatility is currently slightly higher than usual for HPQ. Prices continued to consolidate within a tight trading range between 21.26 and 21.61 where it has been caught now for the last three trading days.
Prices are trading close to the key technical support level at 21.26 (S1).
The trend is clearly bullish, showing an intact uptrend in the short, medium and long-term.
Selling might accelerate should prices move below the close-by swing low at 21.26 where further sell stops could get activated.