HSBC Holdings Downward Momentum Looks to Continue (HBC)
By Chip Brian, SmarTrend Analytics Team
SmarTrend identified a Downtrend for HSBC Holdings (NYSE:HBC) on November 27, 2009 at $58.20. In approximately 3 months, HSBC Holdings has returned 8.8% as of today’s recent price of $53.07.
HSBC Holdings is currently below its 50-day moving average of $55.83 and should find support at its 200-day moving average of $52.45. Look for these moving averages to decline to confirm the company’s downward momentum.
SmarTrend will continue to scan these moving averages and a number of other proprietary indicators for any changes in momentum for shares of HSBC Holdings.
SmarTrend analyzes over 5,000 securities simultaneously throughout the trading day and provides its subscribers with trend change alerts in real time. to get a free trial of our trading calls and maximize your trading results, please visit TradeTheTrend.com.
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HSBC Holdings Downward Momentum Looks to Continue (HBC)
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