HSBC Holdings is near the Mirror Level!The price bounced several times from Mirror Level 39.72.
This is a good example of how to use levels for making money.
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Trade ideas
HSBA trending downwards, currently holding supportJust throwing some lines on HSBC (HSBA) .
We have a broadening channel, higher highs and lower lows on a 20 year timeframe.
Currently in a downward trend on the monthly, just about holding historical support.
This would probably be a good place to exit if we are expecting a market downturn.
"These formations are relatively rare during normal market conditions over the long-term" - Investopedia
HSBC Bullish For Stock Market ReboundHSBC 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.
HSBC Approaching Support, Potential Bounce!HSBC is approaching its support at 40.33 (100% Fibonacci extension, 78.6% Fibonacci retracement, horizontal swing low support) where it could potentially bounce to its resistance at 41.19.
Stochastic (55, 5, 3) is approaching its support where a corresponding bounce could occur.






















