Current trend

Shares of Hewlett-Packard Co., an American information technology giant, are trading at 36.00.

The company is trying to take a leading position in the market of high-performance computers, and its recently introduced model, called HP OmniBook Ultra, created on the basis of artificial intelligence (AI), is capable of calculating up to 55.0 trillion operations per second, which is currently a world record. In addition, the launch of the Z by HP AI Studio platform has been announced, which supports the capabilities for fast and secure deployment of applications using AI.

In addition, during the week, the management of Hewlett-Packard Co. informed about new consumer credit options for products purchased on the site HP.com. To pay for purchases, the company uses ChargeAfter technology, which, in collaboration with three financial providers, provides customers with different ways to finance purchases (from ordinary loans to leases with the right to buy out without a loan).

The quarterly report will be published on August 22: analysts expect revenue to grow to 13.38 billion dollars, up from 13.2 billion dollars over the same period a year earlier, while earnings per share (EPS) may remain around 0.86 dollars. 

Support and resistance

On the D1 chart, stock quotes are trading in a corrective trend and are approaching the June high of 34.00.

Technical indicators are in the state of a buy signal, which is actively weakening: the fast EMAs of the Alligator indicator are consolidated above the signal line, and the AO histogram has moved into the sales zone. 

Support levels: 34.60, 32.50.

Resistance levels: 35.90, 38.10.

Trading tips

Short positions should be opened after the price consolidates below the support level of 34.60 with the target of 32.50. Stop-loss – 71.00. Implementation period: 7 days and more.

Long positions should be opened after the price has consolidated above the resistance level of 35.90 with the target of 38.10. Stop loss should be set below the support level at 35.00.