HP Inc.: sharp bounce, sell signal under watch
HP Inc. rebounds 10.4%, but daily volume doesn't back the move
HP Inc.: sharp bounce, sell signal under watch
Our view last week
HP Inc. is in its second week of a sell signal, and the week just closed down 4.2%: the decline is making lower lows, a pace that is holding with no sign of exhaustion. Signal strength sits at 51 out of 100, the setup quality indicator at 62 out of 100 in the ordinary range. The stock ranks 92nd among the 137 US sell signals, but our model flags a new short here as high risk on a highly volatile name.
This week's summary
HP Inc. shares rebound 10.4% this week, climbing off the daily EMA20 — the 23 area, a 6% bounce off the touch — and the Sell signal, in its third week, comes out weaker for it: signal strength drops to 22 out of 100 and reads "decline fading out," with price back at the edge of the Inversion Point. Beneath the surface, though, daily money flow stays negative and buyers make up just 13% of volume: a bounce the tape hasn't fully confirmed yet.
IQS Phase
57
ordinary
Signal Strength
22
decline fading out
Sizing
MINIMUM
Ranking
#56 / 137
US stocks sell signals
Trade P&L %
-5.86%
from signal to today
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