HSBC Holdings Plc. shares (LSE:HSBA) are not gaining nor losing. Price has been going largely sideways since February 2021. That is expected to end this year.
The market is currently below the EMA 21, and the William’s % Range
period 10 is already in the oversold region.
A closer look at the market shows that the possibility of the price going
upwards is higher than its possibility of going downwards. Therefore, what is
currently happening can be called a temporary pullback.
Soon there would be a movement above the EMA 21 and the William’s %
period 10 would start sloping upwards, causing a strong bullish signal to form in
the market. The market would be able to reach the resistance zones at 500.00,
600.00 and 700.00 this year; plus it could even go further upwards.
The outlook on HSBA is bullish for this year – it si not advisable to
short the market.
Azeez Mustapha
Market Analyst, Trading Signals Provider and Coach
Teach Yourself Technical Analysis: Teach yourself technical analysis
Source: http://uk.advfn.com/newspaper/authors/azeez-mustapha
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