HPQ is out of phase with the rest of the world, not unlike AAPL and a few other stocks. It had its lows in 2003. Assuming that it started a “new” life from that point , it a 5-wave sequence in early 2010. From there it is down about 62% and is a few dollars away from reaching a wave 4 of previous degree level and a point on the parallelogram that could be the completion of wave 4 if the top (of wave 1) is not yet in. At roughly $27 this could be a great buy. As the stock is at odds with the rest of the world, care should be taken to put in a stop-loss close to the entry point.