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.
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