Hewlett-Packard Company Bearish Pattern Before Earnings
Hewlett-Packard Company (NYSE:HPQ) has a bearish pattern on the daily chart prior to announcing earnings tomorrow after the market closes. While it is not wise to buy/short a stock into earnings, this pattern has to be noted and does give us a general bias (60/40). Let's use this as a case study and watch to see the direction following the earnings report. Earnings will be reported Wednesday, August 19th, 2014, after the market closes. Estimates are for the company to earn $0.89. The whisper number is for a profit of $0.92 per share.
Please note that it is the policy of InTheMoneyStocks to never buy a stock specifically to hold through earnings.