HPQ psar bear signal

The technology company Hewlett-Packard (HPQ) is showing a psar bear signal as the sto moves from overbought territory down into the netural zone.

The macd is in bull mode but has been declining since Feb. 22.

The adx is a bit on the low side -- it stands at 25 -- so I see a somewhat heightened chance of a whipsaw here.

However, the psar has been a fairly consistant signal of trends the last two reversals. (Insert "past performance is no guarantee of future results" caveat here.)
You are here:

• Resistance
• $52.95, +2.4%
• $52.25, +1%
• Now $51.71
• Support
• $51, -1.4%
• $49.98, -3.4%
• $47.75, -7.7%
• $46.46, -10.2%

If HPQ falls below $51 (a 1.4% decline from the current level), then it has a fairly good shot at $49.98 and maybe even down to $47.75.

Over the longer run this stock has been running between $46.50 and $53 since October 2009, so the current movement at this point must be coded as part of a sidewinder. A move below $46.46 would code the trend as down by setting a lower low.

Abbreviations:
psar - Parabolic Stop and Reverse
adx - Average Directional Index
pps - Person's Proprietary Signal
ma20 - 20-day moving average
macd - Moving Average Convergence-Divergence
mfi - Money Flow Index
sto - Fast Stochastic    

Topic: Hewlett-Packard technology printers