HSBC Holdings plc (NYSE:HSBC) 2019 Outlook

HSBC Holdings plc (NYSE:HSBC) 2019 Outlook

HSBC Holdings plc (NYSE:HSBC) 2019 Outlook

Overall, the bias in prices is: Downwards.

By the way, prices are vulnerable to a correction towards 45.86.

The projected upper bound is: 48.18.

The projected lower bound is: 33.64.

The projected closing price is: 40.91.

Candlesticks

A black body occurred (because prices closed lower than they opened).
During the past 10 bars, there have been 4 white candles and 6 black candles for a net of 2 black candles. During the past 50 bars, there have been 23 white candles and 27 black candles for a net of 4 black candles.

An engulfing bearish line occurred (where a black candle’s real body completely contains the previous white candle’s real body). The engulfing bearish pattern is bearish during an uptrend. It then signifies that the momentum may be shifting from the bulls to the bears.

If the engulfing bearish pattern occurs during a downtrend (which appears to be the case with HSBC HOLDING ADR), it may be a last engulfing bottom which indicates a bullish reversal. The test to see if this is the case is if the next candle closes above the bottom the current (black) candle’s real body.

Momentum Indicators

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 31.7390. This is not an overbought or oversold reading. The last signal was a buy 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 42.21. 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 buy 32 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 -123.This is an oversold reading. However, a signal isn’t generated until the indicator crosses above -100. The last signal was a sell 10 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 sell 6 period(s) ago.

Rex Takasugi – TD Profile

HSBC HOLDING ADR closed down -1.430 at 41.110. Volume was 20% above average (neutral) and Bollinger Bands were 24% narrower than normal.

Open High Low Close Volume___
43.450 43.590 39.620 41.110 11,622,376

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

Moving Averages: 10-period 50-period 200-period
Close: 45.46 42.88 58.78
Volatility: 85 109 132
Volume: 8,980,598 11,432,720 11,082,971

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 30.1% below its 200-period moving average and is in an upward trend. Volatility is Our volume indicators reflect volume flowing into and out of HSBC.N at a relatively equal pace (neutral). Our trend forecasting oscillators are currently bullish on HSBC.N and have had this outlook for the last 21 periods.

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