Shares of HP Inc
) tumbled almost 20% on the back of weak sales numbers. The stock is trading at $19.40 on its way to a double bottom
on the daily chart
. Based on technical analysis
, HP Inc
will likely cross briefly below $19.00 before staging a technical bounce. This is a quick swing trade, likely playing out in a day or two once the target buy level is achieved. Upside could be as high as $20 but once in-the-money by $0.40, use a trailing stop until $20.00 is hit.