TipTVFinance

HSBC Holdings - Time for a healthy correction

LSE:HSBA   HSBC HOLDINGS PLC ORD $0.50 (UK REG)
Right 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.
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