HSBC Holdings plc (Hong Kong) (HKG:0005) HEFFX Highlights

HSBC Holdings plc (Hong Kong) (HKG:0005) HEFFX Highlights

HSBC Holdings plc (Hong Kong) (HKG:0005) HEFFX Highlights

  • HSBC has admitted it was “wrong” to predict a deep dive in the value of the pound this year, as the banking giant’s bearish currency analysts were forced to revise up their forecasts.
  • The bank had previously said sterling might end the year at $1.20 and parity with the euro, but it now says it is more likely to hit $1.35 and €1.12.

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 ranging.

The projected upper bound is: 78.27.

The projected lower bound is: 74.18.

The projected closing price is: 76.22.

HSBC HOLDINGS closed down -0.450 at 76.200. Volume was 39% below average (neutral) and Bollinger Bands were 48% narrower than normal.

Open         High         Low           Close         Volume
76.000      76.500     76.000      76.200     15,817,488

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

Moving Averages: 10-period         50-period         200-period
Close:                       76.03                75.93                 68.34
Volatility:                12                      17                       20
Volume:                   20,411,482     24,332,656      25,675,944

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 HOLDINGS is currently 11.5% above its 200-period moving average and is in an upward trend. Volatility is relatively normal as compared to the average volatility over the last 10 periods. Our volume indicators reflect volume flowing into and out of 0005.HK at a relatively equal pace (neutral). Our trend forecasting oscillators are currently bullish on 0005.HK and have had this outlook for the last 1 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 67.4419. This is not an overbought or oversold reading. The last signal was a sell 5 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 54.72. 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 33 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 66. This is not a topping or bottoming area. The last signal was a sell 0 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 7 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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