HSBA daily bullish hammerHSBA daily bullish hammer beginning B correction or wave 2 downtrend.
Order BUY HSBA LSE Stop 486.30 LMT 486.30 will be automatically canceled at 20221231 18:00:00 EST
HSBA
HSBA Long BreakoutHSBA poised for breakout of ascending triangle. Great risk to reward set up with stop just below 5.20. First profit target 6. Sell half and move stop to break even. Second half of trade risk free with target of 6.68.
$HSBC (HSBA.L) seems to like curve-shaped topsThis chart is the London share, in GBP. One of the least exposed of the big banks to 2008 problems, although suffered badly on fines. Neverthless, there is plenty of upside.
HSBC Another SHORTAnother look at the Hbsc. Last short was successful. There is a probable short once again as projected.
HSBA – Bearish divergence intactThe daily RSI is in a falling channel even though the prices are moving higher, suggesting a bearish price RSI divergence and a potential for a correction.
However, the stock found buyers at the session low of 629.60. Nevertheless, a potential for a sell-off remains intact till the stock does not close above 645 levels.
On the lower side, major support is seen around 600 levels.
HSBC Holdings - Time for a healthy correctionRight hand side - Daily chart
Left hand side- Weekly chart
The bearish divergence is quite clear. The price is sliding higher against the trend line, while the RSI is moving in a downward channel. Unless, the RSI breaks higher, there is little reason to believe the stock could rise further.
Over here, the RSI is sowing a bearish divergence...while the MACD is showing the loss of bullish momentum.
Overall, it appears the stock is poised for a much needed healthy correction to 600-580 levels.
