HBC/N trade ideas
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''
