HSBC Holdings stock (LSE:HSBA) has stayed weak because buyers seem not to be interested in getting seriously active. Following a largely consolidating movement that occurred between November 2019 and February 2020, there was a sustained downwards movement.
The downward movement appears to be losing steam in this month of April; but that would turn out to be a pause which would be temporary before the next leg of a downward trend is resumed.
ADX period 14 is above the level 30, which signifies a considerable amount of momentum. The DM- is above the DM+, meaning that bears hold sway.
The MACD default parameters, has its signal lines below the zero line, while the histogram is above the zero line. It is expected that the histogram will fall below the zero line soon, therefore enforcing the almost vivid Bearish Confirmation Pattern in the market.
The outlook for HSBA is bearish and further weakness is expected.
Trading realities: Trading realities
CLICK HERE TO REGISTER FOR FREE ON ADVFN, the world's leading stocks and shares information website, provides the private investor with all the latest high-tech trading tools and includes live price data streaming, stock quotes and the option to access 'Level 2' data on all of the world's key exchanges (LSE, NYSE, NASDAQ, Euronext etc).
This area of the ADVFN.com site is for independent financial commentary. These blogs are provided by independent authors via a common carrier platform and do not represent the opinions of ADVFN Plc. ADVFN Plc does not monitor, approve, endorse or exert editorial control over these articles and does not therefore accept responsibility for or make any warranties in connection with or recommend that you or any third party rely on such information. The information available at ADVFN.com is for your general information and use and is not intended to address your particular requirements. In particular, the information does not constitute any form of advice or recommendation by ADVFN.COM and is not intended to be relied upon by users in making (or refraining from making) any investment decisions. Authors may or may not have positions in stocks that they are discussing but it should be considered very likely that their opinions are aligned with their trading and that they hold positions in companies, forex, commodities and other instruments they discuss.
Hot Features
Premium
Register for Free to get streaming real-time quotes, interactive charts, live options flow, and more.
