Thursday, June 05, 2003 1:00:09 PM
HPQ: Possible iH&S Target of $30+ ?
HPQ looks like a double headed monster on this.
First Shoulder: October 2001 at $12/39
Head: July and Oct 2002 at $10.75
Second Shoulder: March 2002 at $14.81
-Good lower volume on this shoulder
Neckline goes through $23.91 Jan 02 and $21.20 Jan '03.
This neckline is now being breached so the target would be first a potential test of this neckline from above then a run towards about $11 above the neckline or low to mid $30's.
HPQ looks like a double headed monster on this.
First Shoulder: October 2001 at $12/39
Head: July and Oct 2002 at $10.75
Second Shoulder: March 2002 at $14.81
-Good lower volume on this shoulder
Neckline goes through $23.91 Jan 02 and $21.20 Jan '03.
This neckline is now being breached so the target would be first a potential test of this neckline from above then a run towards about $11 above the neckline or low to mid $30's.
Kirk out
#board-1574
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