Well looks like HSBC is hovering 2009 financial crisis. Time has come to short them again to go to zero or so. Red line will act as resistance line. Time to re-enter.
Black line a Temporary bounce after hitting the black line but most aggressive manipulators can hold for the below line for max profit. There will be a strong bounce once hits this Red support line but once broke it will go down to $4 or below. Take out profit and go short after few weeks. =============================== At least this is the start of the another...
Cheaper borrowing with base rate cut should encourage further bank lending activity for HSBC.
The HSBC Holdings (HSBC) weekly chart shows the following signs: HSBC from the year of 2009 makes a bottom schema of downtrend reversal in an ascending triangle. Technicaly MACD and RSI gave a bullish sign recently. I think that the time of showing the real new trend is near in this summer. If the price overcomes KUMO and the $54.08 it will be the first positive...