HEWLETT-PACKARD COMPANY : SHORT-TERM LONG (UPDATED)Overall major trend is down since 2010 with current uptrend near a very strong downward trendline marked in RED.
Price will oscillate within the blue channel and if this holds true, we will experience short-term trend is bullish up till the red trendline. If price breaks this line, and is carried within the blue channel, it will move to the black 150% fibo warning line.
The angle of price frequency as defined by the black pitchfork seems steep so any break above the red trendline may be unceremoniously halted and pushed back by the green 150% fibo trendline. This may push the price downwards testing the red trendline(arrow) as support in an atypical "Kiss Goodbye" move before it advances to the black 150% fibo of the black pitchfork.
