$HP – WATCH: Forming a 3rd Contraction

Base Count

Looks like it made a nice 160% run out of Stage 1 as it entered Stage 2. It’s currently forming a big base to consolidate those gains. On the weekly shown above, there is a big shakeout that recovered back into the base.


Nice EPS growth and expansion over the last 4 quarters. Also, nice margin acceleration during that time, in which they became profitable.


RS is 33.94% above the Energy sector, and the Energy sector is 58.15% above the SPX. Showing good RS within the sector and against the SPX overall. It looks like two VC’s have formed, with the second being in that shakeout. A third contraction is happening now. It is too volatile now but watch to see how far it contracts and if it’s on diminishing volume.

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