HP stock: buy or sell
Apr 22nd, 2021
HP stock brief
- After marking new highs last Friday, HP closed at $33.90 rising a 1.59%
- Morgan Stanley posted a bullish rating for HP on Tuesday, with a target of $40.00
- HP Inc. provides personal computing and other access devices, imaging and printing products, and related technologies, solutions, and services in the United States and internationally.
Should I buy HP stock?
Even if you are a experienced or a novel trader, best trading results come from using an investing strategy that never leaves to random or subjective opinions when is the best moment to buy or sell stocks. Trading strategies are meant for helping you in the decision process of what stocks to pick and when is the best moment to buy them. At Stocks2.com, we like to use very simple but trusted and powerful trend following trading strategies. Simple things usually work the best
Is $HPQ stock a buy?
Currently, HP stock doesn't match any of these trading strategies, so our recommendation is not to buy now. This doesn't mean $HPQ will slide in coming sessions, or it will not rise higher. Simply, it doesn't match our recommended trading systems
Should I sell HP stock?
Knowing when to sell a stock is even more difficult than knowing when to buy it. Trading strategies help us to avoid impulsive decisions based on our sentiments or the buzz that surrounds the market. Our trading system selects very simple strategies to guide us on when is the best time to sell our shares. Be aware that these strategies should not be used for shorting HP stock
A golden rule is that you should never keep an operation that produces greater losses than those expected by the time of purchase. When to sell your stock always has to be ruled by the stop-loss (automatic or manual)
Is it time to sell HP stock?
In the current situation of HP there is not any eligible sell setup, so HP stock holders with operations in profit can keep their positions
In the last month, 3 brokerage ratings were published for HP. General sentiment is bullish, with 3 out of 3 posting optimistic forecasts
|Apr 8th, 2021|
|Apr 14th, 2021|
|Apr 20th, 2021|
HP stock analysis
Since in October 2020, HP has been drawing an uptrend that so far marked an amazing 98.13%. During this uptrend, the price offered some entry points on the breakouts. Latest low was in late March, when price bounced at $28.97. In late March, HP broke out above its last top ($31.11) offering a good buying opportunity
$HPQ at All-time Highs
Last Friday, HP marked new all-time highs (ATH) again at $34.27. It's the 5th time in the last 10 sessions, marking an important rally
Supports and resistances
Price is at highs and there are not upper resistances.
The current supports are:
The price is moving very close to the upper Bollinger band, signaling some level of overbought in recent sessions. This is not a sell point, as price can move in these levels for many days and weeks
Relative strength index
The RSI dropped below the overbought level of 70 on Tuesday after just crossing to the overbough zone for just one day (weak signal). The RSI reading on Wednesday was 69.33
HP stock price history
HP went public priced at an adjusted price1 of $0.05 on Jan 1962. Since then, HPQ stock surged by 67,700.00%, with an average of 1,147.46% per year. If you had invested thousand dollars in HP stock at that time, it would worth $678,000.00 today.
1: Adjusted price after possible price splits or reverse-splits
Price target for HP stock
Nobody knows how much a share will be priced tomorrow. However, many stock price forecasts are issued every day by banks, financial institutions and independent analysts.
The following table shows the price predictions posted by brokerage institutions in the last month. If you are a small investor you should not trade based on these projections.
Averaging all price targets exposed below, the estimated price for HP stock is $39.33. HP closed at $33.90 on Wednesday, so the target price is forecasting an increase by 16.02%.
|Brokerage firm||Price target|
|Apr 8th, 2021|
|Apr 14th, 2021|
|Apr 20th, 2021|
Earnings and financials
Last February, HP ($HPQ) hosted the quarterly earnings event and posted the report. HP beat Wall St estimates and reported of $0.92, that is a 39.39% improvement versus the estimates of $0.66. Similarly, reported sales were $15.6 billion versus estimates of $15.0 billion.Same quarter one year ago, reported EPS was $0.65, so current EPS means a gain of 41.54%. Looking at turnover, figures moved up a 7.03% compared to $146.2B same quarter a year ago.
HP ($HPQ) will host the quarterly earnings call late next May. Wall Street predicts of $0.88, compared to previous quarter that made $0.92.
HP belongs to the Computer Hardware industry, where it has industry peers.
The following are some of HP main competitors:
|Company||Market cap||Rating||Bullish ratings1|
|Microsoft ($MSFT)||$1.8T|| ||5|
|Cisco Systems ($CSCO)||$206.8B||Buy||3|
|Super Micro Computer (SMCI)||$1.9B||Neutral||0|
1 In the last 30 days.
To better understand HP stock performance you must compare its gains with other related stocks in same sector or industry.. For HP, the benchmark is made against Apple, Microsoft, Intel, Oracle, Cisco Systems, IBM, Canon and Super Micro Computer.
|Cisco Systems ($CSCO)||4.60%||15.70%||33.70%|
|Super Micro Computer (SMCI)||-0.40%||14.30%||43.00%|
Important note:The opinions written in this post are personal and not recommendations for you to buy or sell stocks. The author of this article does not have any knowledge of the individual conditions of the reader, his or her finances or what is in his or her best interest at any given time. All users should speak with their financial advisor before buying or selling any securities Thoughts are expressed for informational purposes only
|Wednesday, April 21st, 2021|
|Day range||$33.2 - $34.01|
|Average true range||$0.72|
|50d mov avg||$30.20|
|100d mov avg||$27.26|
|200d mov avg||$22.85|
|Earnings date||May 26th, 2021|