Hewlett-Packard (HPQ) Continues Higher on Technical Trading

March 6, 2013 1:14 PM EST
Shares of Hewlett-Packard Company (NYSE: HPQ) moved higher on Wednesday, extending weekly and monthly gains. Today’s trading action appears to be technically driven and follows a recent break into the $20-handle, with momentum continuing to favor longs. In the past 30 days, HPQ is higher by over 20 percent. The move began following a surprise Q1 beat at the end of February and has continued virtually unabated since then. At $21 per share, Hewlett-Packard is trading at its highest level since June, 2012.

It should also be noted that Hewlett-Pack is the top performing Dow 30 stock year-to-date. The popular average hit an all-time high yesterday and is continuing higher today.

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