Above Resistance - Hewlett Packard

Published on Saturday, 21 January 2012 15:52 Written by Danny Miller

New York, January 21st (TradersHuddle.com) - Shares of Hewlett Packard Company (NYSE:HPQ) closed the trading session at $28.13 just above calculated resistance at $26.99 moving to what appears to be a new range, as this move will clearly raise the attention of momentum buyers.

Hewlett-Packard Company (NYSE:HPQ) provides computing systems, imaging and printing systems, and information technology services for business and home. The Company's products include laser and inkjet printers, scanners, copiers and faxes, personal computers, workstations, storage solutions, and other computing and printing systems. Hewlett-Packard operates as a global company and sells its products worldwide through different distribution channels. Hewlett-Packard was founded in 1939 and is headquartered in Palo Alto, CA.

Hewlett Packard's stock was trading in a well defined range with support at $25.13 and resistance at $26.99, given that this range was broken traders will be closely monitoring the stock