HPE Has Nearly Double Since April. Here's What Its Chart SaysHewlett Packard Enterprise CompanyBATS:HPEmoomooHewlett Packard Enterprise HPE will release fiscal Q3 results next week at a time when its stock has nearly doubled since hitting a 52-week low in April. Let's check out the tech giant's technical and fundamental analysis. HPE's Fundamental Analysis Hewlett Packard Enterprise plans to unveil its latest results on Wednesday after the closing bell in what could be a key quarter for the firm. Analysts expect HPE to report that earnings to have contracted year over year for the second straight three-month period. They also believe management will say that sales growth has decelerated sharply from the pace the firm enjoyed during calendar-year 2024. The analyst community projects that HPE will report $0.41 in adjusted earnings per share on about $8.8 billion of revenue. That would compare poorly to the $0.50 in adjusted EPS that the company recorded for the same period one year ago, but would reflect relatively healthy 13.7% y/y sales growth from Q3 fiscal 2024's $7.7 billion. Of the seven sell-side analysts who cover Hewlett Packard Enterprise, three have increased their earnings estimates since the quarter began, while three have revised their forecasts lower. (One estimate remains unchanged.) That said, two highly rated analysts recently reiterated their positive opinions of the stock. Tim Long of Barclays confirmed his "Buy" rating and $26 price target (vs. the $23.16 that HPE closed at Thursday). Similarly, Amit Daryanani confirmed his "Buy" rating and $28 target for the stock. TipRanks rates both Long and Daryanani at five stars (the highest possible grade). It's also worth noting that Elliott Management, the hedge fund run by billionaire activist Paul Singer, revealed in mid-August via a 13F filing that it bought an 18.6-million-share stake in HPE during the second quarter. HPE's Technical Analysis Now let's look at HPE's chart going back some six months and running through Wednesday afternoon: Readers will see that beginning in April, HPE developed what's called a "rising-wedge" pattern of bearish reversal while gaining ground from a roughly $12 low to about $23 today. So far, the stock has managed to find support at its 21-day Exponential Moving Average (or "EMA," marked with a green line above) and its 50-day Simple Moving Average (or "SMA," denoted with a blue line. HPE also recaptured its 200-day SMA (marked with a red line) in early July. Meanwhile, HPE's Relative Strength Index (the gray line at the chart's top) is just starting to scrape up against technically overbought territory. That said, the stock's daily Moving Average Convergence Divergence indicator (or "MACD," marked with black and gold lines and blue bars at the chart's bottom) is very bullish technically speaking. Not only is the histogram of the 9-day EMA (the blue bars) in positive territory, but the 12-day EMA (the black line) has overtaken the 26-day EMA (the gold line). These are all bullish indicators despite HPE's generally bearish-looking pattern. A Hewlett Packard Enterprise bull would look at the rising-wedge pattern's upper trendline as a pivot. The stock is roughly there right now. However, if HPE hits resistance at that upper trendline (which wouldn't be unusual for this kind of pattern), there are key downside pivots at both the stock's 50- and 200-day trendlines. (Moomoo Technologies Inc. Markets Commentator Stephen “Sarge” Guilfoyle had no position in HPE at the time of writing this column.) 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