HSBC Holdings Plc (LON: HSBA) is a financial services company that is publicly traded on the London Stock Exchange. The company operates in various sectors like Retail Banking and Management, Commercial Banking, Global Banking and Markets, and Global Private Banking. 

The company generated a revenue of £76 Billion in 2022 which is a 43% growth as per the last yea. Notably, HSBA posted negative growth in its Sales figures over the last 3 years. These reports were the major reason for the downtrend in the market. 

Furthermore, in 2022, HSBA reported £12.03 Billion in net income which was about 15% of the total revenue. With increased profits, the firm paid out dividends of over 44% of the net profit – Dividend per share (DPS) of £0.27 and a Dividend yield of 5.18%.

Technical Analysis and Price Prediction of HSBA Stock

These figures helped the stock rise as it attracted several investors. At the time of writing, the HSBA stock price is trading at a level of £626. The stock is in its immediate resistance zone of £627. The investors made a bullish rally after bouncing back from its support level of £598. Furthermore, beyond these pivot levels, the 2nd support and resistance are at the level of £579 and £650 respectively.

What are the indicators showing?

In between the pivot levels, the indicators of HSBA stock price are also showing interesting insights. The MACD indicator for example is showing a bullish trend after both the EMA and the MACD line came up from the neutral level of zero. At present, the MACD line is at 10.9 while its EMA is down below at 8.37

The RSI line on the other hand is showing a trend similar to MACD. The RSI line is over its oversold level of 70. Another interesting pattern to note is during July, the RSI line made the same level of 80 and then it rebounded. As some reddish candles are being developed on the resistance zone, the HSBA stock price is likely to come down from its support level.

Furthermore, the 50 days EMA is on the verge of making a bullish crossover with the 200 EMA, they are on the levels of £603 and £6056 respectively, the crossover will take place if the HSBA stock price rises above the current resistance level. 

Conclusion

HSBC Holdings (LON: HSBA) is a listed company which reported positive revenue growth after over 2 years.  At present, the HSBA stock price is showing signs of rebounding from the immediate resistance level.

Technical Levels

Support levels: £598 and  £579

Resistance levels: £627 and £650