HSBC Holdings Bearish Moving Average Crossover Alert (HBC)
Today, shares of HSBC Holdings (NYSE:HBC) have fallen below their 10-day MA of $52.64 on a volume of 138K shares. Swing traders may find an opportunity for a short position, as such a crossover often suggests lower prices in the near term.
Over the past year, HSBC Holdings has traded in a range of $37.44 to $53.30 and is now at $52.46, 40% above that low. The 200-day and 50-day moving averages have moved 0.30% higher and 0.62% higher over the past week, respectively.
SmarTrend recommended that subscribers consider buying shares of HSBC Holdings on August 8th, 2012 as our proprietary SmarTrend analytics indicated a new Uptrend was in progress when shares hit $43.91. Since that recommendation, shares of HSBC Holdings have risen 20.2%. 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