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IBD Rating Upgrades: HP Flashes Improved Technical Strength


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HP ( HPQ ) had its Relative Strength ( RS ) Rating upgraded from 65 to 71 Thursday -- a welcome improvement, but still below the 80 or better score you prefer to see.

[ibd-display-video id=2368044 width=50 float=left autostart=true] This exclusive rating from Investor's Business Daily tracks market leadership with a 1 (worst) to 99 (best) score. The rating shows how a stock's price performance over the trailing 52 weeks compares to all the other stocks in our database.

Decades of market research shows that the market's biggest winners typically have an RS Rating of above 80 in the early stages of their moves. See if HP can continue to show renewed price strength and clear that threshold.

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While the stock is not near an ideal buying range right now, see if it goes on to form and break out of a proper chart pattern .

Earnings grew 22% last quarter, up from -10% in the prior report. Revenue also increased, from 10% to 11%. Look for the next report on or around Feb. 22.

HP holds the No. 7 rank among its peers in the Computer-Hardware/Peripherals industry group. Logitech International ( LOGI ), Transact Technologies ( TACT ) and Canon ( CAJ ) are among the top 5 highly rated stocks within the group.

RELATED:

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Why Should You Use IBD's Relative Strength Rating?

How Relative Strength Line Can Help You Judge A Stock



The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.



This article appears in: Investing , Stocks
Referenced Symbols: HPQ , RS , LOGI , TACT , CAJ


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