HP Inc. Stock Dips 2.14% in Pre-Market Despite Sharp Rebound in Previous Session
HP Inc. (NYSE: HPQ) is trading lower in pre-market action, with the stock priced at $23.76, reflecting a 2.14% drop from yesterday’s close of $24.28. This early weakness comes after HP saw a strong +14% rebound from intraday lows in the regular session on April 9.
HP Stock Snapshot
| Metric | Value |
|---|---|
| Previous Close | $24.29 |
| Latest Close | $24.28 |
| Pre-Market Price | $23.76 |
| Pre-Market Drop | -$0.52 (-2.14%) |
| Day’s High (Apr 9) | $24.34 |
| 52-Week High | $39.62 |
| 52-Week Low | $21.21 |
| P/E Ratio | 8.73 |
| Dividend Yield | 4.77% |
| Market Cap | $2.29 Trillion |
What Drove HP’s Big Move Yesterday?
- Bargain buying near 52-week lows
- Rotation into value tech stocks as investors rebalanced portfolios
- Attractive dividend yield of 4.77% drawing income-seeking investors
- Broader tech and Nasdaq rally lifting sentiment
HP was among the top mid-cap tech gainers during the April 9 session.
Why the Dip in Pre-Market Now?
- Profit booking by short-term traders after 2-day surge
- Tech futures signaling a mixed open
- Broader market cautious ahead of U.S. CPI data
- Weak performance in PC hardware sector overseas
Technical Levels to Watch
| Type | Level |
|---|---|
| Immediate Support | $23.50 |
| Next Major Support | $22.80 |
| Resistance Zone | $24.30–$24.50 |
| Breakout Confirmation | Above $24.50 |
A move below $23.50 may trigger more short-term downside, while stability near $24 could indicate bullish consolidation.
Investor Strategy – April 10
For Swing Traders:
- Watch the $23.50 level for a dip-buying opportunity
- Avoid aggressive longs until CPI volatility subsides
- Consider risk-managed plays near dividend yield zones
For Long-Term Investors:
- Solid value stock with over 4.5% dividend yield
- Still well below its 52-week highs
- Consider dollar-cost averaging if support holds
Expert Take
“HP’s valuation and dividend make it resilient in volatile markets. Pre-market dips like this could be opportunities, especially if the macro setup is stable,” said Laura Klein, Senior Equity Strategist at Morgan Stanley.
HP Pulls Back After Sharp Rally, Eyes Macro Triggers
HP stock’s 2.14% pre-market decline to $23.76 is largely a cooling-off phase after its powerful comeback. While sentiment remains cautious ahead of key CPI data, investors may treat this dip as a technical breather rather than a reversal, especially if $23.50 holds firm.
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