HSBC Approaching Resistance, Potential Reversal!HSBC is approaching its resistance at 42.27 (100% Fibonacci extension, 61.8% Fibonacci retracement, horizontal overlap resistance) where it is expected to reverse down to its support at 40.07 (horizontal swing low support).
Stochastic (89, 5, 3) is approaching its resistance at 96% where a corresponding reversal is expected.
HBC1 trade ideas
HSBC Bounced Off its Support, Potential Rise!HSBC bounced nicely off its support at 40.07 (100% Fibonacci extension, 61.8% Fibonacci retracement, horizontal swing low support) where it could potentially bounce to its resistance at 41.94 (61.8% Fibonacci retracement, horizontal swing high resistance).
Stochastic (55, 5, 3) has bounced off its support ascending support line.
HSBC Bounced Off Support, Potential Further Rise!HSBC bounced off its support at 36.98 (61.8% Fibonacci extension, 61.8% Fibonacci retracement, horizontal overlap support) where it could potentially rise to its resistance at 46.16 (50% Fibonacci retracement, horizontal pullback resistance).
Stochastic (89, 5, 3) has bounced off its support at 2.4% where a corresponding rise could occur.
$HSBC | Multi-Year Consolidation | Targeting Near 10-Year LowHello Traders,
HSBC has been in a large consolidation since the Financial Crisis of 2008. Based on my model, this is still 60% probability that 25.21 will be hit before this Multi-Year Consolidation is over. There have been two sell signals both pointing to the same target of 25.21 from my model, therefore, this chart is worthy of a share.
HSBC LONG-LONG-LONGHSBC securities trades at $50.18.
We are going to buy it after bell as we have and fundamental both technical arguments to wait for holding $52.45. Thus we have fixed stop lose at the price $49.26. It has just give us our new trading strategy which called Trend Line by Kagor Invest.
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HSBC - break out of long term trend linesHSBC broke through 2 long term trend lines today which might suggest some bullishness going forward. Also worth noting is history has shown that as goes HSBC the FTSE 100 usually follows. I have left any EW wave count off the chart as I am still undecided if this is all part of a long term correction dating from the top in 2001 or part of an impulsive climb that began in 2009. Whichever way I look at it, I reckon there is still some upside in this stock.
HSBC - A Need for SpeedCurrently HSBC is facing a long standing resistance level at 766, this is acted as pivot back in 2008 and 2009 and as resistance in 2013.
Price action is faced with a conundrum, try and break from where it is, already relatively overextended and less oppurtunistic for new entries OR correct (retrace) over the next couple of days or weeks to get some momentum from the attach zone at 711 to 720.
Trenline confluence and near term support may give buyers the advantage and the speed it needs to move through 766 to the next level at 788'ish.
Lots over big levels to contend with on it way higher, up is good so expect some volatility if the break occurs.
Position before next BreakOut **Dividend**Fundamentally HSBC is confident that their internal investment of process amelioration was a success which wil make the company a lot more efficient with regards to future challanges coming due to the automation revolution.
Investors seem to believe and started buying the stock back. HSBC was always paying a nice dividend and so are they this year.
Conservative investors may wait until trend confirmation a new breakout. More aggressive may buy 1/2 now, TP on the BO. Buy back into 1/2 at BO level and buy another half in the support.
Strategy:
Better than 50/50 chance on capital gain for mid-term
Dividend payment
Potential Options hedges to increase your income on this opportunity