Trade ideas
HSBC Holdings PLC – Bears in control, but watch out for inverse Daily Chart
Support – 431.10, 420.80, 413.92
Resistance – 447.20 (50-DMA), 462.90, 468 (100-DMA)
Repeated failure at 200-DMA in second half of April followed by a break below 50-DMA yesterday indicates bears are on control and the prices could drop to 430-420 levels in days ahead.
Daily RSI, at 42.00, is pointing lower and indicates room for further fall in prices.
However, traders need to watch out for a possible rebound from anywhere between 430 to 420 levels. More so because hourly RSI is oversold, while 4-hr is fast approaching oversold territory.
Consequently, a rebound from range of 430-420 could end up in inverse head and shoulder formation with neckline at 476 levels.
If the above action unfolds over the next week or so, the neckline would coincide with falling trend line resistance as well.
On the other hand, a break below 420 could spell trouble for bulls and expose 400 levels.
HSBC NO RECOVERY ZONE - LONG 48.97HSBC MUST bounce of the 37.86 Lows to pull them selves out of this technical & fundamental hole, but after doing a quick Google search, hsbc's future doesn't look promising. As a technical trader i try to over look the fundamental BS which in my opinion it's only role is to off set the market. For that reason alone & it's current technical level Im looking to go long at it's current support level to 48.97
HSBC Holdings Plc Weekly (22/2014) Chart Technical AnalysisThe 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 sign. The second target that will enforce my scenario is the price of $57.97 towards to $63.70. Stop loss under the support line.
HSBC vs FTSE which will perform better? 130days forecast #spreadIndex Arbitrage Forecast: FTSE100 will outperform HSBC
Supporting Strategies: Cointegration, Correlation and Technical
Analysis Pattern : Elliott Wave 5
The trade should be opposite to the "gap". HSBC has performed better than FTSE100, in order to close the gap FTSE will now perform better in the next 131 days.
Targets and notes on charts
HSBC''Beware of Greeks bearing gifts'' from Virgil's Aeneid .... is like to say in our modern world ''Beware of Banks bearing gifts''
