HSBC Holdings plc Stock Forecast
Green day on Friday for HSBC Holdings plc
(Updated on May 17, 2024)
The HSBC Holdings plc stock price gained 2.08% on the last trading day (Friday, 17th May 2024), rising from $8.67 to $8.85. During the last trading day the stock fluctuated 3.49% from a day low at $8.60 to a day high of $8.90. The price has risen in 5 of the last 10 days but is still down by -0.81% for this period. Volume fell on the last day by -5 thousand shares and in total, 19 thousand shares were bought and sold for approximately $165.88 thousand. You should take into consideration that falling volume on higher prices causes divergence and may be an early warning about possible changes over the next couple of days.
The stock lies in the middle of a wide and strong rising trend in the short term and a further rise within the trend is signaled. Given the current short-term trend, the stock is expected to rise 17.75% during the next 3 months and, with a 90% probability hold a price between $9.79 and $10.79 at the end of this 3-month period.
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HBCYF Signals & Forecast
The HSBC Holdings plc stock holds buy signals from both short and long-term Moving Averages giving a positive forecast for the stock. Also, there is a general buy signal from the relation between the two signals where the short-term average is above the long-term average. On corrections down, there will be some support from the lines at $8.74 and $8.33. A breakdown below any of these levels will issue sell signals. 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 -1.72%. Further fall is indicated until a new bottom pivot has been found. Volume fell during the last trading day while the price increased. This causes a divergence and may be considered as an early warning, but it may also not.
Support, Risk & Stop-loss for HSBC Holdings plc stock
HSBC Holdings plc finds support from accumulated volume at $8.60 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, but be aware of low or falling volume as this increases the risk. During the last day, the stock moved $0.300 between high and low, or 3.49%. For the last week the stock has had daily average volatility of 4.48%.
Our recommended stop-loss: $8.52 (-3.69%) (This stock has medium daily movements and this gives medium risk. There is a sell signal from a pivot top found 7 days ago.)
Trading Expectations (HBCYF) For The Upcoming Trading Day Of Monday 20th
For the upcoming trading day on Monday, 20th we expect HSBC Holdings plc to open at $8.78, and during the day (based on 14 day Average True Range), to move between $8.54 and $9.16, which gives a possible trading interval of +/-$0.306 (+/-3.46%) up or down from last closing price. If HSBC Holdings plc takes out the full calculated possible swing range there will be an estimated 6.91% move between the lowest and the highest trading price during the day.
Since the stock is closer to the resistance from accumulated volume at $8.91 (0.68%) than the support at $8.60 (2.82%), 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.
Current score: 2.476 Buy Candidate Unchanged
Predicted Opening Price for HSBC Holdings plc of Monday, May 20, 2024
| Fair opening price May 20, 2024 | Current price |
|---|---|
| $8.78 ( 0.753%) | $8.85 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for HBCYF
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 9.08 | 2.64 % | |
| R2 | 8.97 | 1.34 % | ||
| R1 | 8.90 | 0.542 % | ||
| Current price: | 8.85 | |||
| Support | S1 | 8.67 | -2.05 % | |
| S2 | 8.60 | -2.85 % | ||
| S3 | 8.48 | -4.14 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 9.01 | 1.75 % | |
| R2 | 8.99 | 1.62 % | ||
| R1 | 8.91 | 0.678 % | ||
| Current price | 8.85 | |||
| Support | S1 | 8.60 | -2.82% | |
| S2 | 8.56 | -3.33% | ||
| S3 | 7.41 | -16.33% |
HBCYF Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | May 09, 2024 | May 09, 2024 | Jun 21, 2024 | $0.311 | 3.51% |
| 2 | Mar 07, 2024 | Mar 07, 2024 | Apr 25, 2024 | $0.311 | 3.85% |
| 3 | Mar 06, 2024 | Mar 06, 2024 | Apr 25, 2024 | $0.310 | 3.84% |
| 4 | Nov 09, 2023 | Nov 09, 2023 | Dec 21, 2023 | $0.100 | 1.29% |
| 5 | Nov 08, 2023 | Nov 08, 2023 | Dec 21, 2023 | $0.100 | 1.29% |
FAQ
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