HP Inc. (HPQ): WXYXZ Sequence

SUMMARY

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HP Inc. (HPQ) used to be the darling of Wall Street...until Carlo Fiorina came. She became CEO in 1999; just about when the extended 5th was starting from the base of wave 4. And then the mega merger between HP and Compaq cleared the way for the resulting crash and price has since not recovered to any all time new high levels. She became the news and event carrier for the price decline...however, had Carly been a proficient Elliotician, preparations could have been made! As the chart below shows, HPQ has merely gone sideways in a price channel within parallel lines.

The Elliott Wave labels show that WXYXZ is the likely sequence of which the Z still remains. The subwaves concur the higher degree of trend lables. So, if the final Z wave is to take place...would this be the ideal time to be buying more even with leverage? Or the time to be taking some off the table? Here is yet another sign that a recession could be approaching for the global markets.

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