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Long

HSBC Bullish For Stock Market Rebound

NYSE:HSBC   HSBC HOLDINGS PLC ADR EACH REPR 5 ORD USD0.50
HSBC is trading this month in congruence with the current global stock market pullback by offering a time-relative discount in share prices.

HSBC target $43 for a 5.4% difference from the current quote of $40.78. The S&P 500 is off 7.5% from doubly tested but not yet broken all time highs which renders this parallel HSBC trade idea as conservative and defensive. The duration for this trade is 1-3 months.
Trade closed manually: HSBC under performed the broad stock market in rally, current quote $41.77 from the initial $40.78. Time to close the 2% difference in preparation for a further broad stock market sell-off.

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