Swing Trading Strategies & Stock Picks Since 2003

Stock of the Day – Hewlett Packard CO (HPQ)

Close – $38.98

Strategy – Short

Profit booking – $33-$34

MACD – 0.70

RSI – 64.54

The stock is expected to face strong resistance at $39 and $40 levels. One can short the stock in $39-$40 range and can keep a small stop loss above $40 levels. The stock is currently trading a range with $28 levels acting as strong support and $39-$40 acting as strong resistance. One can trade the range by going short on the stock at $40 range. Exit positions if stock trades strongly above $40.