HI its Mike Smith from Hawkeye Traders here and we have got HPQ charts here in front of you with day one, day two and weekly charts as per usual. HPQ are adjusting because they do their earnings report later than other companies reporting season and not due to report till the 18th of August.
And we have seen a significant move along the line if you have a look at buying volume in for really for this whole uptrend with this pivot high of $14 which you can see quite clearly on the 2-day chart and the significance of that on the weekly from the beginning of June but also back to November, December when it was also at this level.
So we are looking for a break out here we have got to move two sessions ago with a little doji-type formation there so we are looking for a move in the last hour above $14.20-$14.25 for confirmation of continuation of a trend we will scalp 20% to 30% off this particular trade and that’s what we are looking at today.
Mike Smith
HawkeyeOptions
hawkeye-traders.com
