HSBC Holdings plc (ADR) (NYSE:HSBC) Loves the Belt and Road

HSBC Holdings plc (ADR) (NYSE:HSBC) Loves the Belt and Road

HSBC Holdings plc (ADR) (NYSE:HSBC) Loves the Belt and Road

  • Bank of Ireland picks HSBC executive as its new CEO
  • HSBC rolls out virtual business banking platform
  • HSBC Loves China’s Belt And Road
  • HSBC Announces $1.5 Million Grant to Expand Horizons Learning Programs to Reach More Kids
  • HSBC reports 19 percent fall in profit before tax

HSBC Holdings plc (HSBC) is the banking and financial services company. The Company manages its products and services through four businesses: Retail Banking and Wealth Management (RBWM), Commercial Banking (CMB), Global Banking and Markets (GB&M), and Global Private Banking (GPB). It operates across various geographical regions, which include Europe, Asia, Middle East and North Africa, North America and Latin America. RBWM business offers Retail Banking, Wealth Management, Asset Management and Insurance. CMB services include working capital, term loans, payment services and international trade facilitation, among other services, as well as expertise in mergers and acquisitions, and access to financial markets. GB&M supports government, corporate and institutional clients across the world. GPB’s products and services include Investment Management, Private Wealth Solutions, and a range of Private Banking services.

Overall, the bias in prices is: Upwards.

Short term: Prices are stalling.

Intermediate term: Prices are trending.

Note: this chart shows extraordinary price action to the upside.

By the way, prices are vulnerable to a correction towards 42.20.

The projected upper bound is: 44.50.

The projected lower bound is: 42.13.

The projected closing price is: 43.31.

HSBC HOLDING ADR closed up 0.160 at 43.260. Volume was 99% below average (consolidating) and Bollinger Bands were 78% wider than normal.

Open          High            Low            Close          Volume
43.260       43.260       43.260       43.260       25,325

Technical Outlook
Short Term: Neutral
Intermediate Term: Bullish
Long Term: Bullish

Moving Averages: 10-period         50-period      200-period
Close:                       43.40               41.35               39.80
Volatility:                21                      18                    22
Volume:                   1,826,265       2,008,186      2,227,033

Short-term traders should pay closer attention to buy/sell arrows while intermediate/long-term traders should place greater emphasis on the Bullish or Bearish trend reflected in the lower ribbon.

Summary
HSBC HOLDING ADR is currently 8.7% above its 200-period moving average and is in an upward trend. Volatility is high as compared to the average volatility over the last 10 periods. Our volume indicators reflect moderate flows of volume into HSBC.K (mildly bullish). Our trend forecasting oscillators are currently bullish on HSBC.K and have had this outlook for the last 16 periods.

Momentum is a general term used to describe the speed at which prices move over a given time period. Generally, changes in momentum tend to lead to changes in prices. This expert shows the current values of four popular momentum indicators.

Stochastic Oscillator

One method of interpreting the Stochastic Oscillator is looking for overbought areas (above 80) and oversold areas (below 20). The Stochastic Oscillator is 34.7491. This is not an overbought or oversold reading. The last signal was a sell 1 period(s) ago.

Relative Strength Index (RSI)

The RSI shows overbought (above 70) and oversold (below 30) areas. The current value of the RSI is 60.39. This is not a topping or bottoming area. A buy or sell signal is generated when the RSI moves out of an overbought/oversold area. The last signal was a sell 1 period(s) ago.

Commodity Channel Index (CCI)

The CCI shows overbought (above 100) and oversold (below -100) areas. The current value of the CCI is 29. This is not a topping or bottoming area. The last signal was a sell 1 period(s) ago.

MACD

The Moving Average Convergence/Divergence indicator (MACD) gives signals when it crosses its 9 period signal line. The last signal was a buy 17 period(s) ago.

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John Heffernan

John Heffernan is a Junior Analyst at HEFFX. John is studying Economics and is a contributor on equities at Live Trading News.

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