HSBC Holdings plc Stock Forecast
HSBC Holdings plc stock upgraded from Hold/Accumulate to Buy Candidate after Friday trading session.
(Updated on Apr 26, 2024)
The HSBC Holdings plc stock price gained 0.215% on the last trading day (Friday, 26th Apr 2024), rising from $41.81 to $41.90. During the last trading day the stock fluctuated 0.793% from a day low at $41.64 to a day high of $41.97. The price has risen in 7 of the last 10 days and is up by 3.13% over the past 2 weeks. Volume fell on the last day by -433 thousand shares and in total, 1 million shares were bought and sold for approximately $55.49 million. 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 upper part of a wide and weak rising trend in the short term, and this may normally pose a very good selling opportunity for the short-term trader as reaction back towards the lower part of the trend can be expected. A break-up at the top trend line at $42.48 will firstly indicate a stronger rate of rising. Given the current short-term trend, the stock is expected to rise 5.32% during the next 3 months and, with a 90% probability hold a price between $40.31 and $44.73 at the end of this 3-month period.
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HSBC 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 $41.40 and $39.83. A breakdown below any of these levels will issue sell signals. A buy signal was issued from a pivot bottom point on Monday, March 11, 2024, and so far it has risen 12.85%. Further rise is indicated until a new top pivot has been found. Volume fell during the last trading day despite gaining prices. This causes a divergence between volume and price and it may be an early warning. The stock should be watched closely. Some negative signals were issued as well, and these may have some influence on the near short-term development. Furthermore, there is currently a sell signal from the 3 month Moving Average Convergence Divergence (MACD).
Support, Risk & Stop-loss for HSBC Holdings plc stock
HSBC Holdings plc finds support from accumulated volume at $41.81 and this level may hold a buying opportunity as an upwards reaction can be expected when the support is being tested.
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 $0.330 (0.793%) between high and low. For the last week, the stock has had daily average volatility of 1.02%.
Our recommended stop-loss: $40.50 (-3.34%) (This stock has low daily movements and this gives low risk. There is a buy signal from a pivot bottom found 33 days ago.)
Trading Expectations (HSBC) For The Upcoming Trading Day Of Monday 29th
For the upcoming trading day on Monday, 29th we expect HSBC Holdings plc to open at $41.84, and during the day (based on 14 day Average True Range), to move between $41.28 and $42.52, which gives a possible trading interval of +/-$0.620 (+/-1.48%) up or down from last closing price. If HSBC Holdings plc takes out the full calculated possible swing range there will be an estimated 2.96% move between the lowest and the highest trading price during the day.
With no resistance above and support from accumulated volume @ $41.81, some $0.0900 (0.21%) from the current price of $41.90, our system finds the risk reward attractive.
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: 3.274 Buy Candidate Upgraded
Predicted Opening Price for HSBC Holdings plc of Monday, April 29, 2024
| Fair opening price April 29, 2024 | Current price |
|---|---|
| $41.84 ( 0.151%) | $41.90 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for HSBC
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 42.17 | 0.636 % | |
| R2 | 42.04 | 0.336 % | ||
| R1 | 41.96 | 0.150 % | ||
| Current price: | 41.90 | |||
| Support | S1 | 41.71 | -0.452 % | |
| S2 | 41.63 | -0.638 % | ||
| S3 | 41.51 | -0.94 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 0 | . | |
| R2 | 0 | . | ||
| R1 | 0 | . | ||
| Current price | 41.90 | |||
| Support | S1 | 41.81 | -0.215% | |
| S2 | 39.50 | -5.73% | ||
| S3 | 37.22 | -11.17% |
HSBC Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | Mar 07, 2024 | Mar 07, 2024 | Apr 25, 2024 | $1.55 | 3.70% |
| 2 | Oct 30, 2023 | Nov 09, 2023 | Dec 21, 2023 | $0.500 | 1.26% |
| 3 | Aug 01, 2023 | Aug 10, 2023 | Sep 21, 2023 | $0.500 | 1.27% |
| 4 | May 02, 2023 | May 11, 2023 | Jun 23, 2023 | $0.500 | 1.31% |
| 5 | Feb 21, 2023 | Mar 02, 2023 | Apr 27, 2023 | $1.15 | 3.17% |
FAQ
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