Hsbc Share Discussion Threads

[triple witcher] 27/7/2020 08:05

There's the headlines dictating the share price !"HSBC Denies Chinese Media Claim It "Fabricated Evidence" On Huawei"Unquote

[buywell3] 26/7/2020 23:07

Have they have been reading buywell posts ??

Been said if you look back

Banks worldwide look set IMO to cop a load of defaults on loans made now

Debt issuance continues apace cos rates are just so low --- problem is in many cases the payees have no income or a very tiny one.

Trouble is being stored up on a daily basis IMO

The ramifications of which will echo around the world for years

dyor

[imastu pidgitaswell] 26/7/2020 10:33

Dunno.

A very good piece:

[growthpotential] 25/7/2020 11:02

Why is the ticker HSBA and not HSBC?

[triple witcher] 24/7/2020 17:02

Volume today 18,583,861 so average

[triple witcher] 24/7/2020 16:52

Looking at the chart for todays price action, it appears the original support has now become resistance, but I would like a proper retest of this over early next week to confirm the price action around this potential 369/370 support turned resistance.

Anyway, here is the chart



Note we saw the typical contraction in volume as we approached nearer to the apex of the triangle



As we broke below support at open today we gapped down and then this gap was later nicely closed. I would like to see an expansion of volume today which tends to be typical of a break out to the downside.

Heres the worked example again



Assuming this support has now turned resistance some catalysts for the move down are:-

1) Worsening tensions between the US and China

2) Problems in HK

3) The V shaped recovery in the US having set backs as the Covid 19 cases continue to rise in the Sunny states and possible shut downs, plus non farm payroll figs for July out in early August may not be positive.

All the above could lead to a sell off in global markets

And then we have HSBC Q2 results out early August and the price reaction to these.

I will continue to add on any downturn as medium term the share price will eventually recover as we start to come out on the other side of Covid once a vaccine is found, and of course financials are always last to recover.

I suppose if the price action confirms the descending triangle and the 303/305 price target, this would be a good short, however myself I do not trade CFD's etc so I am happy to add to my holding on any further weakness

However, please DYOR !

[action] 24/7/2020 10:29

Thank you.

[triple witcher] 24/7/2020 09:54

3 August at 5 am BST https://www.hsbc.com/investors/results-and-announcements

[action] 24/7/2020 09:13

Do you know the financial update date ?

[triple witcher] 24/7/2020 09:08

Plus deteriorating China/US relations and the situation over HK, long term though I see this as a good recovery stock so will be buying more if we head down further

[triple witcher] 24/7/2020 09:05

Yes, we may as we have had the gap down at open, but we need to see the expansion of volume and a retest of the original 369/370 support turned resistance over the next few trading days as confirmation. Possible catalysts for the downturn are further moves down in the general market as the V shaped recovery is knocked off track by deteriorating economic conditions, and our Q2 results may disappoint in early August

[action] 24/7/2020 08:59

If your chart prediction is correct we may see 310-320p

[triple witcher] 24/7/2020 08:09

Okay we have gapped down at today's open ftse down 75 pts as I write so looks like descending triangle pattern has been confirmed with a break below support. If we now see an expansion of volume with 369/370 offering resistance then we are headed lower. Will look to add as we do

[triple witcher] 23/7/2020 18:17

some interesting articles







We closed below support will be interesting to see the price action tomorrow and as to whether this original 369/70 support then becomes resistance.?

I have bought small tranches of this stock around this support level over the past few days, but if the break out to the downside is confirmed, then will buy more as IMHO this is a good long term hold, but please DYOR.

[triple witcher] 23/7/2020 11:00

Yes, I have done the same as this is the big blue chip share that will recover. (Eventually!)Averaging down is not always recommended but yes, with this share it works with a combination of the charts.I usually use Fibonacci retracements as a guide in a downturn but this stock has now nearly retraced near to the 1 mar 2009 low

[imastu pidgitaswell] 23/7/2020 10:05

Kind of what I am thinking, although thinking that its current weakness is much more HSBC specific with the China/HK issues, not least the US response and its implications for HSBC there.

In term of the price, yes I will be adding more at lower levels, not selling for a loss. Most people think that is the wrong way around - but it works for me, and has done for many years, as long as you have the right share(s).

In a couple of years, I suspect the notion of being able to buy this at 370 will seem absurd. But I can't guarantee it...

[triple witcher] 23/7/2020 09:53

These levels last seen in 2009



Bearish side, if we break below support and this acts as resistance then height of triangle is 65p so we may retest these lows

Positive side, support holds and we rise from here

IMHO non farm payroll figs out in early August for July will dictate the next move as we tend to follow any downside via the US but have not really shared in the positive moves upward. After any financial crisis banks are last to recover but the skyward move of the FAANG stocks in the US is concerning and as to what proportion they make up of the S&P.

Markets are always forward looking but with cases rising in TEXAS, FLORIDA, ARIZONA and California it does not look good as they resist any further shut downs, we need a vaccine which IMHO is the next game changer

All IMHO, but HSBC have weathered many economic crisis over the years of their long history, and so we will rise from these levels, its just when and there could still be more downside from here more tensions with China, issues in HK etc.

I am buying small tranches at this level, but will top up in larger levels if we do fall further, as good long term hold over the next 1 to 3 years, but please DYOR.

HSBC will come out of this and the share price will recover

[imastu pidgitaswell] 23/7/2020 09:18

Yes, until it doesn't. Decided to have another chunk after all - but going to keep it low level. Just don't fancy it at all - but it is so bloody cheap...

[triple witcher] 23/7/2020 09:13

Current chart



Support currently holding

[action] 23/7/2020 08:30

Low if the year..

[triple witcher] 22/7/2020 17:47

The Descending Triangle pattern does look particularly bearish, if we break below the circa 369/370 support this would need an expansion of volume etc. Let's hope the support holds as judging by the height of the triangle the downside does not look good if we broke below and the originalSupport is then confirmed as resistance. If we reach the apex of the triangle then the pattern becomes invalid

[action] 22/7/2020 15:57

Lower lows and lower high. Not good at all.

[action] 22/7/2020 15:55

Your target of 350p may be reached b4 31.7.20.

[triple witcher] 22/7/2020 15:46

some interesting formations

long term



and short term price action





Heavy support around the 369/370 area