HP Incorporation is a well-known multi-national technology company based out of Silicon Valley. The company develops personal computers, printers, and other hardware. HP is one of the most recognizable brands in the industry and has tremendous scale. The strong demand for laptops due to work-from-home, 3D printing (sunrise segment), and other hardware is expected to drive long-term growth for the company.
The long-term monthly chart for HP shows an almost 8-year uptrend that began in late 2012. The price has had a couple of major pullbacks during this time, first in 2015 and the second in 2019-2020. The second pullback was significant, as prices fell more than 55% over an 18-month period. The price then bounced back up from the bottom long-term trend line and recently crossed a historical support-resistance zone at $18. The next likely target looks to be $24 and then $28. A stop loss can be placed at around $17.
Positions take today at $19.14. With stop Loss 31% below at $13.25. Take profit set at $29 yielding a profit of 51%
On the video and images above you will see the reason this stock was selected.
You will see the image is of a monthly chart of the stock showing the long-term upwards trend formed over the years. You will also see the entry point and the where the stop loss is placed. For more information please watch the video given.
Once it is time to move the original stop loss up you will see an additional image.