SUMMARY
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HP Inc. (HPQ) used to be the darling of Wall Street...until Carlo Fiorina came. She became CEO in 1999; just about when the extended 5th was starting from the base of wave 4. And then the mega merger between HP and Compaq cleared the way for the resulting crash and price has since not recovered to any all time new high levels. She became the news and event carrier for the price decline...however, had Carly been a proficient Elliotician, preparations could have been made! As the chart below shows, HPQ has merely gone sideways in a price channel within parallel lines.
The Elliott Wave labels show that WXYXZ is the likely sequence of which the Z still remains. The subwaves concur the higher degree of trend lables. So, if the final Z wave is to take place...would this be the ideal time to be buying more even with leverage? Or the time to be taking some off the table? Here is yet another sign that a recession could be approaching for the global markets.
Legal Disclaimer: I am not a financial advisor nor is any content in this article presented as financial advice. The information provided in this blog post and any other posts that I make and any accompanying material is for informational purposes only. It should not be considered financial or investment advice of any kind. One should consult with a financial or investment professional to determine what may be best for your individual needs. Plain English: This is only my opinion, make of it what you wish. What does this mean? It means it's not advice nor recommendation to either buy or sell anything! It's only meant for use as informative or entertainment purposes.
Please consider reviewing these Tutorials on:
Elliott Wave Counting Tutorial #1
Elliott Wave Counting Tutorial #2
Elliott Wave Counting Tutorial #3
Laddering and Buy/Sell Setups.
Laddering Example with EOS
Tutorial on the use of Fibonacci & Elliott Waves
@haejin's Trading Nuggets
Essay: Is Technical Analysis a Quantum Event?
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