HP Inc. (HPQ) closed higher in its latest trading session and is now preparing to challenge the key resistance level at $29.65. The stock continues to benefit from the positive support provided by trading above its 50-day Simple Moving Average (SMA), which is acting as dynamic support and reinforcing the primary short-term uptrend. Price action also continues to follow an ascending trendline that supports the prevailing bullish bias. Meanwhile, momentum indicators are beginning to form a bullish crossover after the stock successfully worked off its overbought conditions, providing additional room for further gains in the near term.

Therefore, our outlook remains bullish for the stock's upcoming trading sessions, particularly if it breaks above the key resistance level at $29.65. Under this scenario, the stock is expected to target the next resistance level at $32.00.

Today's price forecast: Bullish.