HSBC
Holdings stock (LSE:HSBA) has generated a clean, low-risk buy signal, following
the recent discouraging conditions in the market.
From
November 2018 to February 2019, price consolidated seriously, and then fell
lower in the following few months. Starting from the latter end of March 2019,
a nice bullish trend has started.
4 EMAs are
used for this analysis and they are EMAs 10, 20, 50 and 200. The color that
stands for each EMA is shown at the top left part of the chart.
At this
point, all the EMAs are sloping upwards as price remains above them. Most
importantly, a Golden Cross has taken place, and that is a very good signal for
bulls. The signal is still very much fresh as the market has much more room to
go skywards.
HSBA is supposed
to reach the supply levels at 700.00, 800.00 and 900.00 before the end 2019.
Azeez Mustapha
Market Analyst, Trading Signals Provider and Coach
Trading realities: Trading realities
No comments:
Post a Comment