Sunday, 4 March 2012

Hewlett-Packard: Breakdown from Rising Wedge chart pattern


Both 13w EMA and weekly MACD-Histogram are sloping down, so weekly Impulse only allows to go short or stand aside; going long is not allowed.



Breakdown from Rising Wedge chart pattern.


Outcome:

5 Mar: Opened SHORT at $25.02
8 Mar: Closed at $24.48
Reason for closing: Bullish harami formed on 07/03/2012 with stochastic oscillator %D at oversold.
Profit $0.54, 2.2%

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