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Hewlette-Packard (HPQ): Bearish and set to drop

 

Hewlette-Packard (HPQ) Ichimoku chart is bearish with price range under the kumo with a gap down since end Feb.

It has drift from $42 down to $40 since then with consolidation between the range $39 and $41

Given the massive kumo resistance above and the latest news about possible tough 3rd quarter ahead, HPQ support at around $40 may not hold.