HPE's Acquisition Receives Approval

$HPE

HPE 0.00%↑ on a gap up following the DOJ’s conditional approval of its Juniper Networks acquisition. Here’s the weekly chart -

Above the 2018 highs and the bias is to the upside. Now to the short term chart -

Gap up and it’s currently sitting below AVWAP from the opening bell (it’s below AVWAP from the 8am move as well, though that is not pictured here). I’ll be waiting out a cross back above AVWAP for entry on a trade. Should the gap fill, I’ll be watching for where buyers step in (presumably somewhere close to the low end of the gap range), and looking to enter when it appears the profit taking has subsided.