OptionsPlay DailyPlay

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.

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