HSBC Holdings plc Stock Forecast

Stronger technical forecast for HSBC Holdings plc stock price after Thursday trading.
(Updated on May 16, 2024)

HBC1.F Signals & Forecast

The HSBC Holdings plc stock holds a sell signal from the short-term Moving Average; at the same time, however, there is a buy signal from the long-term average. Since the short-term average is above the long-term average there is a general buy signal in the stock giving a positive forecast for the stock. On further gains, the stock will meet resistance from the short-term Moving Average at approximately 8.20€. On a fall, the stock will find some support from the long-term average at approximately 7.80€. A break-up through the short-term average will send a buy signal, whereas a breakdown through the long-term average will send a sell signal. Furthermore, there is a buy signal from the 3 month Moving Average Convergence Divergence (MACD). Some negative signals were issued as well, and these may have some influence on the near short-term development. A sell signal was issued from a pivot top point on Wednesday, May 08, 2024, and so far it has fallen -2.99%. Further fall is indicated until a new bottom pivot has been found. Volume rose on falling prices yesterday. This may be an early warning and the stock should be followed more closely. The stock had a Golden Star Signal on Monday, March 18, 2024 in the long-term chart.

Golden Star Signal is when the short-term moving average, the long-term moving average, and price line meet in a special combination. This combination is very rare and often followed by long and strong gains for the stock in question.

Support, Risk & Stop-loss for HSBC Holdings plc stock

HSBC Holdings plc finds support from accumulated volume at 7.89€ and this level may hold a buying opportunity as an upwards reaction can be expected when the support is being tested.

This stock has average movements during the day and with good trading volume, the risk is considered to be medium. During the last day, the stock moved 0.226€ between high and low, or 2.78%. For the last week, the stock has had daily average volatility of 1.31%.

Our recommended stop-loss: 7.88€ (-3.54%) (This stock has medium daily movements and this gives medium risk. There is a sell signal from a pivot top found 6 days ago.)

Trading Expectations (HBC1.F) For The Upcoming Trading Day Of Friday 17th

For the upcoming trading day on Friday, 17th we expect HSBC Holdings plc to open at 8.21€, and during the day (based on 14 day Average True Range), to move between 8.01€ and 8.32€, which gives a possible trading interval of +/-0.155€ (+/-1.90%) up or down from last closing price. If HSBC Holdings plc takes out the full calculated possible swing range there will be an estimated 3.80% move between the lowest and the highest trading price during the day.

Since the stock is closer to the resistance from accumulated volume at 8.26€ (1.14%) than the support at 7.89€ (3.40%), our systems don't find the trading risk/reward intra-day attractive and any bets should be held until the stock is closer to the support level.

Is HSBC Holdings plc stock A Buy?

Several short-term signals, along with a general good trend, are positive and we conclude that the current level may hold a buying opportunity as there is a fair chance for HSBC Holdings plc stock to perform well in the short-term. We have upgraded our analysis conclusion for this stock since the last evaluation from a Hold/Accumulate to a Buy candidate.

Current score: 1.927 Buy Candidate Upgraded

Predicted Opening Price for HSBC Holdings plc of Friday, May 17, 2024

The predicted opening price is based on yesterday's movements between high, low, and closing price.