Hello There,

welcome to my new analysis about HPE from a 4-hour timeframe perspective. In recent times, I have spotted interesting setups in the stock market that are likely to turn into profitable trading opportunities in the upcoming times. As I have spotted it, HPE has already completed the underlying formation and now activated further price action to emerge next.

When looking at my chart, we can see how HPE is forming this major bullish triangle formation. Within this formation, HPE already completed the wave count and bounced within the 100-EMA marked in orange, which also matches the support of the lower boundary of the triangle formation. Since then, HPE formed the bullish breakout. This is a strong bullish setup for further upside potential.

Since HPE completed the bullish breakout, this now determines the completion of the triangle formation and the activation of the bullish triangle target zone seen in my chart. The previous earnings already supported this bullish setup and increased the likelihood of a bullish continuation enormously. It will be interesting to see how HPE moves into the target zones because, when it holds the momentum steady, a continuation could be likely.

In this manner, thank you a lot for watching!
The support is highly appreciated.

VP