HP (HPQ) shares plunged Thursday after the PC maker missed analysts’ profit expectations and issued a light outlook, citing increased costs from tariffs.

The PC maker said 澳洲幸运5官方开奖结果体彩网:its guidance reflects tariff costs and actions taken to mitigate associated trade risks, adding that it had responded quickly to expand its 澳洲幸运5官方开奖结果体彩网:manufacturing footprint and reduce its cost structure. CEO Enrique Lores said during the earnings call that additional tariff costs "could not be fully mitigated in the quarter," and that HP has "implemented price increases to help offset cost pressure."

HP shares fell more than 8% Thursday, posting the biggest declines in the S&P 500. The stock has lost nearly a quarter of its value so far in 2025 as investors assess the cost of the company’s ongoing efforts to diversify its 澳洲幸运5官方开奖结果体彩网:supply chain while it navigates the Trumpꦆ administration’s unpredictable trade po𒉰licies.

Below, we take a closer look at HP’s chart and use 澳洲幸运5官方开奖结果体彩网:technical analysis to identify price levels♔ worth watching out for.

Rising Wedge Breakdown

Since bottoming out early last month, HP shares have staged a 澳洲幸运5官方开奖结果体彩网:countertrend rally, forming a 澳洲幸运5官方开奖结果体彩网:rising wedge pattern in the process.

In an ominous sign, the stock broke down below the pattern’s lower trendline on above-average volume in Wednesday’s trading session ahead of the company’s quarterly report, paving the way for a continuat🐲ion move lower.

It’s also worth pointing out that the 澳洲幸运5官方开奖结果体彩网:relative strength index has recently fallen below thဣe 50 threshold, signaling weakening pr🉐ice momentum.

Let’s identify three important 澳洲幸运5官方开奖结果体彩网:support levels to waಞtch and also locate a key overhead area worth monitoring during future ups🐲wings.

Important Support Levels to Watch

The first lower level to watch sits around $25, right about where the stock closed on Thursday. This area may provide support near a brief period of 澳洲幸运5官方开奖结果体彩网:consolidation within the rising wedge pattern and the prominent Se🥂ptembe🦂r 2023 trough.

A move below this level could see HP shares fall to the $23 region. The price may attract support here near the low of the stock’s first minor dip after bouncing from its early-April low.

Selling below this level opens the door for the shares revisiting lower support at $21. Investors may seek longer-term 澳洲幸运5官方开奖结果体彩网:buy-and-hold entry points in this area near la🔯st month’s ta༒riff-driven low.

Key Overhead Area Worth Monitoring

During future upswings in the stock, investors should monitor the $29 area. A recovery effort into this region would likely meet overhead 澳洲幸运5官方开奖结果体彩网:resistance near the rising wedge pattern’s peak, which also closely aligns with a temporary pause in the stock’s 澳洲幸运5官方开奖结果体彩网:downtrend during March.

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