HSBC Holdings plc Stock Forecast

HSBC Holdings plc stock price ended at £661.90 on Thursday, after losing 0.256%.
(Updated on Apr 25, 2024)

HSBA.L Signals & Forecast

There are mixed signals in the stock today. A sell signal was issued from a pivot top point on Tuesday, April 23, 2024, and so far it has fallen -0.87%. Further fall is indicated until a new bottom pivot has been found. Furthermore, there is currently a sell signal from the 3 month Moving Average Convergence Divergence (MACD). Volume rose on falling prices yesterday. This may be an early warning and the stock should be followed more closely. 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 £655.23 and £626.98. A breakdown below any of these levels will issue sell signals. The stock had a Golden Star Signal on Friday, January 26, 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

On the downside, the stock finds support just below today's level from accumulated volume at £598.00 and £590.50. There is a natural risk involved when a stock is testing a support level, since if this is broken, the stock then may fall to the next support level. In this case, HSBC Holdings plc finds support just below today's level at £598.00. If this is broken, then the next support from accumulated volume will be at £590.50 and £589.80.

This stock is usually traded at a good volume, and with minor daily changes, the risk is considered to be low. During the last day, the stock moved £6.20 (0.94%) between high and low. For the last week, the stock has had daily average volatility of 1.49%.

Our recommended stop-loss: £641.16 (-3.13%) (This stock has low daily movements and this gives low risk. There is a sell signal from a pivot top found 2 days ago.)

Trading Expectations (HSBA.L) For The Upcoming Trading Day Of Friday 26th

For the upcoming trading day on Friday, 26th we expect HSBC Holdings plc to open at £661.17, and during the day (based on 14 day Average True Range), to move between £650.46 and £673.34, which gives a possible trading interval of +/-£11.44 (+/-1.73%) up or down from last closing price. If HSBC Holdings plc takes out the full calculated possible swing range there will be an estimated 3.46% move between the lowest and the highest trading price during the day.

Since the stock is closer to the resistance from accumulated volume at £663.20 (0.20%) than the support at £598.00 (9.65%), 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: 1.869 Buy Candidate Unchanged

Predicted Opening Price for HSBC Holdings plc of Friday, April 26, 2024

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