Annual Forecast for Hsbc Holdings (2022)

PUBLISHED: Apr 23 2022 @ 08:54 | Comments (0) | More info about Azeez Mustapha

Hsbc Holdings Plc shares (LSE:HSBA) are essentially bullish, though the current high is lower than the previous high above 550.00 that was seen in February 2022. That height of 550.00 would also be breached soon.

The trend in the market is generally upbeat, in spite of the swing lows in the chart. Right now, price is above the EMA 21, while William’s % Range period 20, which is already in the overbought area, is trying to slope downwards.

As long as the price does not go below the EMA 21, and William’s % Range starts sloping upwards again, without having to reach the oversold region first, then the bias will become cleanly bullish again and price would then go further skywards.

Yes HSBA has a higher probability of going higher this year, and the resistance levels at 550.00, 660.00 and 770.00 could easily be breached to the upside.

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