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  • Squawk / 15 June 2017 at 6:16 GMT
    Technical Analyst / PIA-First
    United Kingdom
    Selling HSBC on the open

    HSBC has shown fantastic strength over the past 12 months, rising from 414p to 715p.

    In my opinion the shares are now running out of steam and could be due a deeper correction. There is a sequence building of lower highs and lower lows on the daily chart, which is beginning to form a bearish channel. Yesterday the shares broke below a small uptrend line, which could be the trigger for a pullback.

    There is bearish divergence on the RSI and the shares have found resistance on a relative basis versus the FTSE100.

    According to my fundamental ranking model the shares score poorly, ranking at 100 out of 100.

    My trade today is to sell on the open.
    Stop loss at 701p
    Targeting 645p on the downside, then in extension of that towards 620p.
    Read the Squawk
  • Editor’s Picks / 19 February 2016 at 10:21 GMT

    What would a Brexit mean for London?

    The UK has long sought a better "deal" with the European Union, but London's ties to the Continent are the basis for a good portion of its outsized financial sector's success. According to a series of exchanges with analysts, lawyers, and bankers conducted by Bloomberg, some of the key risks centre on "passporting", or the practice that makes it simple for UK firms to do business around the EU, and the over-the-counter derivatives trade, which is likely to move on if the UK opts out of the union. An Ipsos Mori poll conducted Tuesday showed 54% of Britons voting to remain versus 36% looking to leave.
    Read article on Bloomberg
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  • Squawk / 27 August 2015 at 7:01 GMT
    Business analyst
    United Kingdom
    HSBC Holdings plc

    SELL for TARGET 490

    Support level of 494 with the stop loss of 497.
    Stock is trading in a range and trading near the trend-line. Breaking the support line will lead to downside movement.

    RSI is trading near to 37.10 level with -ve bias, in coming session downward move is expected.
    MACD and Signal line is below the zero level line.

    Skype tayal.smith1
    Read the Squawk
  • Editor’s Picks / 04 May 2015 at 10:23 GMT

    Come clean HSBC — moving to London was wrong

    It may have seemed wise in 1993 to up sticks and take HSBC's headquarters from Hong Kong to London, especially with the handover of the former British colony to China in 1997, but another couple of decades on, the board must be ruing that decision, writes William Pesek. The global financial crisis, the euro crisis and a UK tax clampdown that hit the bank with a $1.1 billion charge in 2014, have all helped to chip away at the rationale for that move. With chairman Douglas Flint recently mooting the possibility of a return to Asia, Pesek says "the only real question is, what is Flint waiting for?"
    Read article on BloombergView
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  • Editor’s Picks / 24 April 2015 at 9:27 GMT

    Is HSBC planning to leave London?

    London may be the world's financial capital by many measures, but its position and reputation are likely to take a hit if rumours of an HSBC departure materialise. The bank, originally founded in Hong Kong, has launched a review of its headquarters location and appears concerned abaout the regulatory burdens that come with maintaining a home base in the British capital. According to Bloomberg, HSBC chairman Douglas Flint has said "that the bank would wait for more clarity on regulation in the industry before considering a move". Whether it amounts to pre-election jostling or a deeper problem with UK regulations, the loss of HSBC would make a significant dent in London's status as a banking capital. The current review marks the first time the bank has discussed relocation since 2010.
    Read article on Bloomberg
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  • 4y
    donal wislow donal wislow
    This comment has been redacted
  • 5y
    Rasmus Lykke Rasmus Lykke
    I bet my horse on Apple. Being handsomely rewarded these days - although you think it's an average stock. I'm very curious to hear your comment @$200/sh....