Hewlett-Packard Rockets Higher
Shares of Hewlett-Packard (HPQ) are in breakout mode Friday. Volume is running extremely heavy, pushing the stock to a near-10% gain. The session began with a very powerful gap-higher open that lifted HP to fresh 2013 highs, and the stock began the day trading above its heavy 200-day moving average for the first time in a year. Over the past two years, HP has spent nearly its entire range below that key level. Today's earnings-inspired surge has dramatically altered the picture for the stock.Hewlett-Packard (HPQ) -- Daily Source: TradeStation View Chart » View in New Window »
Through the three-month period from October to December, HP traced out a major bottom, and the stock's final low of 2012 came on the heaviest selling pressure of the year. The stock began to recover the day after the Nov. 14 flush. By the end of the year, the right side of the 12-week base was complete....201 more words left in this article. To read them, just click below and try Real Money FREE for 14 days.
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