Tag: HSBC Holdings

HSBC HOLDINGS   Stock Code 0005.HKE

Outlook

This stock has been moving higher along with the rising middle band. The 20-day moving average is currently acting as the first layer of support. MACD is strong and bullish with both of its lines far above the zero line. As long as price stays above the middle band, we see price continuing to move higher in the next 1-2 weeks.

Strategy                     

$56.50                Buy

$60.30                Price Target

$54.50                Risk Management Stop

2 weeks              Trade Duration

HSBC HOLDINGS    Stock Code 0005.HKE

Outlook
Price could have formed a reversal candlestick pattern, the Evening Doji Star, after trading near to the resistance zone. The MACD is still bullish, but it has given divergence warning that hint for a potential top. A violation of both the Conversion and Base lines is likely to bring price lower to its resistance-turned-support zone, which is also the lower edge of the cloud support at HK$43.05.

Strategy
$46.95                Sell
$43.00                Price Target
$49.30                Risk Management Stop
2 weeks             Trade Duration
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HSBC HOLDINGS   Stock Code 0005.HKE

Outlook
This stock has been moving within an ascending triangle chart pattern for the past two months. Two days ago, it finally broke out from this triangle pattern with a rising window, hinting at the increased upward momentum. This triangle resistance which is also the gap resistance that created on 1st Apr 2020. There is also a bullish Conversion and Base line crossover that hint for potential upside ahead. The MACD is moving higher and there is also a bullish crossover. We are likely to see price move higher as long as price stay above the breakout point of HK$44.00.

Strategy
$45.50                Buy
$49.00                Price Target
$43.90                Risk Management Stop
1 week             Trade Duration