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.
Market Analyst, Trading Signals Provider and Coach
Teach Yourself Technical Analysis: https://www.advfnbooks.com/books/techanalysis/index.html
No comments:
Post a Comment