HSBC Holdings Bearish Moving Average Crossover Alert (HBC)
HSBC Holdings (NYSE:HBC) crossed under its 10-day moving average of $56.22 on a volume of 164K shares. Swing traders may find an opportunity for a short position, as such a crossover often suggests lower prices in the near term.
HSBC Holdings share prices have moved between a 52-week high of $58.71 and a 52-week low of $41.53 and are now trading 35% above that low price at $55.99 per share. Over the last five market days, the 200-day moving average (MA) has gone up 0.4% while the 50-day MA has remained constant.
SmarTrend recommended that subscribers consider buying shares of HSBC Holdings on July 11th, 2013 as our proprietary SmarTrend analytics indicated a new Uptrend was in progress when shares hit $54.83. Since that recommendation, shares of HSBC Holdings have risen 3.3%. We continue to monitor HBC for any potential shift so investors can protect gains and will alert SmarTrend subscribers immediately.
Keywords: moving crosses hsbc holdings