HSBC Holdings shares (LSE:HSBA) are currently
downbeat and buyers should stay away. The market has been trending down
generally for several months, with transitory rallies proffering opportunities
to go short.
Right now, the price is trading below the EMA 21 and
the Williams’ % Range period 20 is gallivanting around the oversold region.
This is a bear market and it should continue going downwards, reaching the
support levels at 40.00 and 35.00 this year. Any rallies along the way should
be seen as opportunities to go short.
Azeez Mustapha
Market Analyst, Trading Signals Provider and Coach
Learn from the Generals of the Markets: Market Generals
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