Hsbc Share Discussion Threads

[jezboy1] 06/12/2006 11:15

Well it is of some concern that on a blue day for many
of the banks - we are stuck in the red.

Question really is how often the 915/916 support level will be tested.
If it breaks, I'm out....

[spacemoggy] 06/12/2006 09:24

Closed my position - 14...Rick

[arja] 06/12/2006 09:22

not sure! struggling to hold after firmer start .

[spacemoggy] 06/12/2006 08:28

Good morning all...we seem to be finding support around this price...Rick

[jezboy1] 05/12/2006 16:16

Well from what I can see on the big chart - this pretty much bounced
up from 915ish, which is the year low more or less.

All we need is reasonable news on friday from the US - and the worst may be over.

Stay above 920 you sod.....

[dondee] 05/12/2006 14:51

Be a turn soon.

[jezboy1] 05/12/2006 12:37

yep - I see what you mean, but I don't think dollar decline has that
much further to go really. IMHO

Everyone is talking about growth weakening over in the US, as being
the reason for the stronger stirling - but I can't see that the
same slower growth won't happen here as well. Meaning if interest rates
will start dropping in the US, I suspect the same will be true over here.

(assuming of course housing stops going up like it has in the US)

[miata] 05/12/2006 12:26

If the dollar continues to weaken the divi yield (in sterling) will continue to decline.

[penycae] 05/12/2006 12:11

Intraday charts on all the Banks look the same at the moment.

[arja] 05/12/2006 11:59

looks really ominous now although maybe will get support at 905 to 910 area !! If not , chart suggests next stop is 870 and i am disappointed to see that has broken though longer term uptrend line ! can not believe that I have not cut losses but will hang on now as MAY come good in time !!

[penycae] 05/12/2006 11:50

Just broken the June '06 low. Panic sellers out the way, shorts should be getting a little nervous about now, unless they want nine quid badly enough. Then it's first to blink as they rush for the exit.

[jezboy1] 05/12/2006 11:43

We are on a yield of 4.6% now - if she falls much lower, surely
there will be support just off the divi yield?

[jezboy1] 05/12/2006 11:18

I am not sure what alot of that means, but I think in essence
it can be summed up in the phrase 'the trend is your friend' and
even an idiot like me can see which way that is going at the moment...

[miata] 05/12/2006 11:14

A) Prior Trend: To qualify as a reversal pattern, there must be a prior trend to reverse. Ideally, the falling wedge will form after an extended downtrend and mark the final low. The pattern usually forms over a 3-6 month period and the preceding downtrend should be at least 3 months old.

B) Upper Resistance Line: It takes at least two reaction highs to form the upper resistance line, ideally three. Each reaction high should be lower than the previous highs.

C) Lower Support Line: At least two reaction lows are required to form the lower support line. Each reaction low should be lower than the previous lows.

D) Contraction: The upper resistance line and lower support line converge to form a cone as the pattern matures. The reaction lows still penetrate the previous lows, but this penetration becomes shallower. Shallower lows indicate a decrease in selling pressure and create a lower support line with less negative slope than the upper resistance line.

E) Resistance Break: Bullish confirmation of the pattern does not come until the resistance line is broken in convincing fashion. It is sometimes prudent to wait for a break above the previous reaction high for further confirmation. Once resistance is broken, there can sometimes be a correction to test the newfound support level.

F) Volume: While volume is not particularly important on rising wedges, it is an essential ingredient to confirm a falling wedge breakout. Without an expansion of volume, the breakout will lack conviction and be vulnerable to failure.
As with rising wedges, the falling wedge can be one of the most difficult chart patterns to accurately recognize and trade. When lower highs and lower lows form, as in a falling wedge, a security remains in a downtrend. The falling wedge is designed to spot a decrease in downside momentum and alert technicians to a potential trend reversal. Even though selling pressure may be diminishing, demand does not win out until resistance is broken. As with most patterns, it is important to wait for a breakout and combine other aspects of technical analysis to confirm signals.

[wcjan25] 05/12/2006 11:02

falling wedge on the intra-day suggests a reversal and move back to high of day

[arja] 05/12/2006 10:45

market has reacted negatively to the uninspiring report . I hope the share price is somewhere near the bottom as fall is relentless as you say . false hope this morning when share price opened strongly and hit 946 !!

[miata] 05/12/2006 10:42

It is and the view that the US dollar will go to $2.00/£1 and may even go further means the turn is likely to be months away.

[jezboy1] 05/12/2006 10:17

Hey miata - how low can she go do you reckon? This fall is relentless.

[miata] 05/12/2006 09:50

Trading update.

[spacemoggy] 05/12/2006 09:33

Chart favours good upside imho...long March 947p...Rick

[gateside] 05/12/2006 09:26

This share is almost as frustrating as BP is!!!!

[penycae] 05/12/2006 09:18

'Course it does. Long from 924. Just hope it doesn't do a BARC.

[gateside] 05/12/2006 09:17

HSBC Holdings, the UK's biggest bank, said that third quarter
financial performance was ahead of the same period last year.

And the share price goes down???

[verynervy] 05/12/2006 08:50

Read the recent news on this site - timed 8-15!

[jezboy1] 05/12/2006 08:12

when is the statement due - does anyone know?