Hewlett-Packard Co. shares: technical analysis for March 17, 2023

Shares of Hewlett-Packard Co. the U.S. information technology giant are moving in a corrective trend at 28.30.

On the daily chart, the price is within the global ascending corridor with dynamic boundaries 27.00-32.00, reaching the support line 28.00.

The four-hour time frame shows that in case of overcoming the local low of March 13 at 27.00, the main signal for the continuation of the decline will be received in case of consolidation below the channel support line, otherwise the price may pullback up to the middle of the global channel at 29.00.

Technical indicators gave a sell signal: the fast EMAs are moving away from the signal line, and the AO histogram is forming new bars, falling in the sell zone.