HPQ Earnings Turns Out To Be Buying Opportunity

Purely from a big picture technical perspective, all of the action in Hewlett-Packard Company (HPQ) off of the April 10 high at 33.90 into Thursday's May 22 post-EPS plunge to 31.01, has the right look of a completed correction, followed by today's powerful upmove to a new multi-year recovery high at 34.09 (so far).

The initial knee-jerk negative reaction to quarterly earnings turned out to be the next buying opportunity within the huge, powerful, and dominant 3-year base formation that should propel HPQ to my next optimal target zone of 36.00 to 37.50.