Hewlett Packard, JP Morgan and Travelers fell despite their Strong Fundamental and Technical Position

Hewlett-Packard Company (NYSE:HPQ) declined 1.57 percent in yesterday’s trading session to $36.47 with traded volume of 16.40 million shares. The share price maintains the average traded volume of 19.81 million shares per day. After yesterday’s declined the share price moved 2.30 percent below its 50-days simple moving average. However the relative strength index of 52.58 shows that the share price is moving towards its overbought level. Looking at it fundamentally the share price is trading at price to earnings of 8.94 times with earnings of $4.08 per share.

JPMorgan Chase & Co (NYSE:JPM) plunged 1.32 percent to close at $41.03 in yesterday’s session. Its traded volume stood at 23.80 million shares as compared to its average traded volume of 31.70 million shares per day. The share price moved 3.15 percent below its 50-days simple moving average after yesterday’s decline. JP Morgan maintains strong fundamentals as its share price is trading at a price to earnings of 9.12 times while its EPS has increased by 76.81 percent in current year.

The Travelers Companies Inc (NYSE:TRV) also dropped 0.98 percent in last trading session to close at $58.53 with traded volume of 3.01 million shares. Its average traded volume stood at 3.26 million shares per day. The company’s total outstanding common stock accumulates up to 418.87 million shares out of which 417.65 million shares are floated in the stock market.

The share price moved 3.46 below its 50-days simple moving average on yesterday’s fall. Moreover the relative strength index of 46 also depicts that the stock prices are trading near its oversold level.

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Rehan Khan

About Rehan Khan

Rehan Khan has been involved in the financial sector for last 6 years. During that time he has been associated with many financial institutions, banks and brokerages. Rehan is also a graduate in finance and has been writing for last 2 years for various web publications, specializing in US stock markets, penny stocks, forex and commodities.

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