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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
  • 2y
    Trax Trax
    Is it possible to set this up so you are emailed when the report comes online?
    2y
    Martin O'Rourke Martin O'Rourke
    Hi Trax, do you follow the SaxoStrats page? I think you will get a notification every time we publish which means you will then have the recording...
  • 2y
    helicongrowth helicongrowth
    You don't suppose they will create an oil price squeeze in time for the IPO ????
    2y
    John G Acher John G Acher
    You should be advising the Saudis, helicongrowth.
  • Article / 21 July 2016 at 2:03 GMT

    Morning Report APAC: Shares gain on Japan, Europe stimulus hopes

    APAC Sales Trading Desk / Saxo Capital Markets
    Singapore
    There are expectations in Asian equities markets that central banks, notably in Japan and Europe, are thinking of creating yet more stimulus. In Japan's case it is about doubling previous numbers, in Europe, there's an expectation - but much further away. In addition, US earnings season is showing more positives than negatives.
    Read the article
  • Editor’s Picks / 21 July 2016 at 0:06 GMT

    HSBC officials snared in currency-rigging probe

    CNBC
    Two senior bankers at HSBC have been arrested in connection with a case involving currency benchmark rigging, according to reports. Mark Johnson, the bank's global head of foreign-exchange cash trading, was arrested on Tuesday at JFK International Airport, according to multiple reports. He faces charges following a three-year investigation into currency trading practices at multiple global banks, according to the reports. In addition, Stuart Scott, former head of cash trading for Europe, the Middle East and Africa, also faces wire fraud conspiracy charges, though he has not been arrested yet.
    Read article on CNBC
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