The bearish DailyPlay we chose for Friday October 2nd is Hewlett Packard Co (HPQ). HPQ is part of the Technology Sector (XLK). Over the last month, XLK has experienced a 1.49% move higher and both the 1m and 6m trends remain bearish since 9/22.
Hewlett Packard Co’s 1m and 6m trends have been bearish since 9/18 and recently has been rejected at its $25 minor resistance level with negative momentum. With a technical score of 3 (out of 10), HPQ looks positioned to continue this strong bearish trend lower towards its $24.30 support level.