Short term view - HSBC HOLDINGS : The major support has been reached.
The trend is still neutral, but the consolidation shape reminds of a bearish reversal. Breaking below the support at 710.00 p would validate the existence of a bearish trend with an invalidation above 758.50 p. The market looks like it is going through a distribution phase.Arguments :
- The major support has been reached.
- The resistance has been reached, it causes the fall.
- The moving average is capping prices.
- The gap has been tested, we wait for the trend to resume.
HSBC Holdings is a financial services holding company. Through its subsidiaries, Co. operates four businesses: Retail Banking and Wealth Management, which serves customers through four businesses: Retail Banking, Wealth Management, Asset Management, and Insurance; Commercial Banking, which provides working capital, term loans, payment services, and international trade facilitation; Global Banking and Markets, which delivers a range of transaction banking, financing, advisory, capital markets, and risk management services; and Global Private Banking, which provides a range of private banking services. At Dec 31 2017, Co. had total assets of US$2.52 trillion and deposits of US$69.92 trillion.
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