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Thursday, March 30, 2017

Annual Trading Forecast for HSBC (2017)

HSBC stock (LSE:HSBA) is currently pulling back. The market trended sluggishly upwards within the months of November 2016 to February 2017, but it is now being corrected.

Price has gone below the EMA 21; while the Williams’ % period 20 Range period 20 is in the overbought region. This mean that price is currently weak.

There is already a bearish signal on HSBC, and further bearish movement would lead to a stronger bearish outlook. On the other hand, a meaningful rally could threaten the bearish signal.

Azeez Mustapha

Market Analyst, Trading Signals Provider and Coach

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