Last time we looked at Hewlett Packard Company (HPQ), we suggested a bullish projection to 22.40. However, it has been consolidating lately below 20. Still, price action during this consolidation points to a market that is controlled by bulls and a run towards 22.40 is still in the cards.HPQ Daily Chart(click to enlarge)Bearish Engulfer:- The daily chart shows a recent bearish engulfing candle - you can't miss is. - However, after this candle, price remained above 18.00, and thus held above the March consolidation range.- Furthermore, the RSI held above 40 after tagging it, which reflects maintenance of the bullish momentum.- Finally, I think if price can push above 19.00, we can ignore the bearish engulfer.