Score 7.3 (out of 10): HP (Hewlett-Packard) INC sets up for +12.1% rally in 3 months

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What’s Going On Here?

HP Inc. is a global provider of personal computing and other access devices, imaging and printing products, and related technologies, solutions and services to individual consumers, small- and medium-sized businesses, and large enterprises, including customers in the government, health and education sectors. 

Why Now?

HP INC has triggered a new price range signal. During similar occasions, HP INC shares had a median return of +12.1%, over the following 3 months – based on 10 historical occasions with 7 of those showing positive returns (70%). This buy signal for HP INC received a high score of 7.3 (out of 10). This insight was generated on 2022-August-12 with last price of 34.65.

What’s This Company About?

HP INC is in the Computers business. Based on the last 2 years’ risk/return profile, this asset is seen as Less Risky. Ticker symbol: HPQ US.

What’s My Risk / Reward and Time Horizon?

We found 3 months to be the optimal trade horizon, after testing a number of possible alternatives (accuracy of previous returns). Otherwise consider closing out this trade once the target level of 38.86 (+12.1%) has been reached. Based on HP INC’s recent up and down swings, LongShortBets suggests considering to set a stop loss level for this insight at 33.15 (last price at 34.65), which is equivalent to a -4.3% decline.

Returns during similar periods:

The chart above shows the previous returns (in %) based on similar setups with the most recent ‘insight’ shown under (1), the second most recent ‘insight’ under (2), etc.

Previous episodes:

-7.3% (March-2022), 15.2% (October-2021), 35.1% (November-2020), 9.1% (April-2020), 20% (November-2019), -7.9% (June-2019), -14.7% (February-2019), 6.9% (May-2018), 19.1% (July-2017), 24.8% (February-2017).

Historical Chart:

Summary:

NameHP INC
ViewUp
Star (1 to 10)7.3
Target12.1%
Time3 months
Hit Rate70%

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