HSBC s Public Ltd Co - HSBC S&P 500 ETF Forecast

Red day on Monday for HSBC s Public Ltd Co - HSBC S&P 500
(Updated on Jul 01, 2024)

HSPX.L Signals & Forecast

The HSBC s Public Ltd Co - HSBC S&P 500 ETF 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 ETF giving a positive forecast for the stock. On further gains, the ETF will meet resistance from the short-term Moving Average at approximately £4,382.15. On a fall, the ETF will find some support from the long-term average at approximately £4,265.26. 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 Friday, June 28, 2024, and so far it has fallen -0.716%. Further fall is indicated until a new bottom pivot has been found. Volume fell together with the price during the last trading day and this reduces the overall risk as volume should follow the price movements. The ETF had a Golden Star Signal on Wednesday, April 24, 2024 in the short-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 ETF in question.

Support, Risk & Stop-loss for HSBC s Public Ltd Co - HSBC S&P 500 ETF

HSBC s Public Ltd Co - HSBC S&P 500 finds support from accumulated volume at £4,286.35 and this level may hold a buying opportunity as an upwards reaction can be expected when the support is being tested.

This ETF is usually traded at a good volume, and with minor daily changes, the risk is considered to be low. During the last day, the ETF moved £26.69 (0.613%) between high and low. For the last week, the ETF has had daily average volatility of 0.419%.

The HSBC s Public Ltd Co - HSBC S&P 500 ETF is overbought on RSI14 and lies in the upper part of the trend. Normally this may pose a good selling opportunity for the short-term trader, but some ETFS may go long and hard while being overbought. Regardless, the high RSI together with the trend position increases the risk and higher daily movements (volatility) should be expected. A correction down in the nearby future seems very likely and it is of great importance that the ETF manages to break the trend before that occurs.

Our recommended stop-loss: £4,223.81 (-3.49%) (This ETF has low daily movements and this gives low risk. The RSI14 is 76 and this increases the risk substantially. There is a sell signal from a pivot top found 19 days ago.)

Trading Expectations (HSPX.L) For The Upcoming Trading Day Of Tuesday 2nd

For the upcoming trading day on Tuesday, 2nd we expect HSBC ETFs Public Limited Company - HSBC S&P 500 UCITS ETF to open at £4,370.09, and during the day (based on 14 day Average True Range), to move between £4,344.10 and £4,409.40, which gives a possible trading interval of +/-£32.65 (+/-0.75%) up or down from last closing price. If HSBC ETFs Public Limited Company - HSBC S&P 500 UCITS ETF takes out the full calculated possible swing range there will be an estimated 1.49% move between the lowest and the highest trading price during the day.

Since the stock is closer to the resistance from accumulated volume at £4,378.10 (0.03%) than the support at £4,286.35 (2.07%), 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 ETFs Public Limited Company - HSBC S&P 500 UCITS ETF ETF A Buy?

HSBC s Public Ltd Co - HSBC S&P 500 holds several positive signals, but we still don't find these to be enough for a buy candidate. At the current level, it should be considered as a hold candidate (hold or accumulate) in this position whilst awaiting further development.

Current score: 0.158 Hold/Accumulate Unchanged

Predicted Opening Price for HSBC ETFs Public Limited Company - HSBC S&P 500 UCITS ETF of Tuesday, July 2, 2024

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