NEW BULLISH Plays
Hewlett-Packard - HPQ - close: 25.16 change: +0.42
Stop Loss: 24.40
Current Gain/Loss: unopened
Entry on June -- at $--.--
Listed on June 17, 2013
Time Frame: 6 to 8 weeks
Average Daily Volume = 22 million
New Positions: Yes, see below
Why We Like It:
HPQ is a technology giant. The stock shot higher back in May following its earnings report. Management guided their EPS estimates higher. Since then HPQ has seen very little profit taking with traders buying the dips. Now shares look poised to breakout to new 52-week highs.
There appears to be short-term resistance at $25.50. I am suggesting a trigger to open bullish positions at $25.65. If triggered our target is $29.50.
Trigger @ 25.65
Suggested Position: buy HPQ stock @ (trigger)
- (or for more adventurous traders, try this option) -
Buy the Aug $25 call (HPQ1317H25) current ask $1.45