HPQ just lost about 18% of this value on a single week, 8 weeks of progress ERASED!
PANIC AND BLOOD ON THE STREETS!
Check , see how to on the selling bars is decreasing? This means the panic is slowly getting absorbed.
"Hey, this mean its time to BUY BUY BUY RIGHT?" Answer: No, at least, not YET.
Panic absorbed is a good sign yes but this just mean the market will stop panic selling ...
For buying we need panic absorbption + bullish/demand signs
As we can see the 19 usd level was a previous resistance and recently a good , and now the recent daily bars looks like some demand has arrived.
I'll keep an eye of the price action behaviour on this stock and IF it show demand signs i'll update it.
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This Trading Idea is to be used for educational purposes only. This idea does not represent financial advice and its NOT a signal. You should trade based only on your own technic and knowledge.
Lets see this week if there is signals of no supply or some demand on this level, if this happen then we get more confirmation for a possible bottom.