HP Inc. (HPQ) stock advanced slightly in its latest intraday trading, preparing to test the key resistance level of 29.50. The short-term corrective bullish trend remains in control, with trading moving along an upward slope line that supports this path. Positive pressure also continues from trading above its previous 50-day SMA. On the other hand, a negative crossover has started to appear in the Stochastic indicators after reaching strongly overbought levels, which may limit the stocks upcoming gains.

Therefore, we expect the stock to rise in its upcoming trading, but on the key condition that it first breaks the mentioned resistance of 29.50, to then target its first resistance level at 31.40.

Todays price forecast: Bullish.