HP PROFIT BEATS ESTIMATES, STOCK SPIKES
HP Inc’s stock is currently trading at 20.17-higher by 5.08% as compared to the previous closing price. In the pre-market trading session, the stock was trading higher by 3.96%. The stock has continued gaining after the opening bell.
The company reported its earnings after the market close on Thursday. HP generated an adjusted EPS of 53 cents for its latest quarter. The EPS was above the market expectation of 51 cents. The company brought in 14.04 billion in revenue for the second quarter. The revenue was above the consensus estimates of 13.95 billion.
HP issued a third-quarter outlook roughly in line with market expectations. The company expects adjusted EPS of 53 cents to 56 cents for the current quarter. The markets were expecting an adjusted EPS of 55 cents for the third quarter.
On the technical front, the RSI is currently at 59.35% and suggests that the market can move in the upward direction. The current price is above the MA5. The current price is above the middle line of the Bollinger Bands and is heading upwards.
TRADE SUGGESTION- LIMIT BUY AT 20.10 TAKE PROFIT AT 20.40 STOP LOSS AT 19.95