Is HSBC Closing in to Support?
Published on Tuesday, 05 March 2013 09:28 Written by TradersHuddle Wire
New York, March 5th (TradersHuddle.com) - Shares of HSBC Holdings plc (NYSE:HBC) ended the trading session close to calculated support at $53.90, a level that will raise the attention of traders looking for an entry point.
HSBC's stock range is defined by its calculated support defined at $53.90 and by the resistance level at $57.37. This range could be used as a reference by traders planning their next move. The area where buyer interest might materialize is defined as calculated support. Stocks trading near support might see upside if it can successfully hold the technical level. However, this area if breached will signal participants that the stock failed to entice buyers to step in to support it.
Traders wanting to establish a position should pay close attention to HSBC's price action, and establish it as close to support as possible, but only after buying materializes. Traders should understand that the resistance point at $57.37 might limit their upside, however, if the stock breaks resistance, it could be a good point to add to the position.
Shares of HSBC Holdings plc closed at $53.95 in the prior trading session.HSBC Holdings plc (NYSE:HBC) is the holding company for the HSBC Group. The Financial firm provides a variety of international banking and financial services, including retail and corporate banking, trade, trusteeship, securities, custody, capital markets, treasury, private and investment banking, and insurance. The Group is headquartered in London and operates worldwide. The firm is the largest lender in Europe and one of the largest banking institutions worldwide, with the most emerging markets exposure.
- AT&T And America Movil To Provide Deeper National Reach For Advanced Enterprise Services Across Latin America
- AT&T 4G LTE Available In Willimantic
- AT&T 4G LTE Available In Torrington
- AT&T And The University Of Kansas Team Up To Enhance Wireless Coverage On Lawrence Campus
- AT&T 4G LTE Available In Fargo
- AT&T 4G LTE Available In Amarillo
- Benefitfocus Announces Pricing of Initial Public Offering
- Trends of China Gear Industry 2013 Analysis & Reviewed in New Research Report at RnRMarketResearch.com
- Product Launch Formula 4.0 Bonuses Total $5000 at BrianHanson.com
- Datex Presents Motorola Solutions Webinar “Is It ‘Smart’ to Use Smartphones for the Enterprise?”
Related Partner Headlines
Recent Trading Ideas
Advanced Micro Devices Is Near Resistance
Is Petrobras Closing in to Resistance?
Trading Idea: What to Expect as Boston Beer Breaks Resistance
Rowan Companies Is Near Resistance
FLIR Systems Is Close to the 50 Day Moving Average
Is Avon Expecting Resistance Soon?
Vulcan Is Near its 200 Day Moving Average
Latest Partner Headlines
Dow Today: Verizon Communications (VZ) Higher - TheStreet.com
Separating the Bargains From the Busts - TheStreet.com
Cramer Quick Take: The 60-Inch TV Will Be Key This Holiday - TheStreet.com
Cramer Quick Take: Cisco Wins If Fiscal Cliff Is Resolved - TheStreet.com
Gap Up and Sit - TheStreet.com
Apple, Intel, MicroStrategy: Tech Winners & Losers - TheStreet.com
Windows 8 PC Sales Disappointing: Report - TheStreet.com
Cramer Quick Take: Buy Home Depot and Lowe's - TheStreet.com