Economy

Market Review: Checking the Technicals on Shares of HSBC Holdings plc

Market Review: Checking the Technicals on Shares of HSBC Holdings plc

HSBC Holdings plc (NYSE:HSBC) has been assigned an average recommendation of "Hold" from the twelve analysts that are now covering the firm, MarketBeat reports. The Average True Range is an investor tool used to measure stock volatility. First developed by J. Welles Wilder, the ATR may help traders in determining if there is heightened interest in a trend, or if extreme levels may be indicating a reversal. Many investors will use the CCI in conjunction with other indicators when evaluating a trade. In general, and ADX value from 0-25 would represent an absent or weak trend.

Tracking other technical indicators, the 14-day RSI is presently standing at 44.33, the 7-day sits at 28.27, and the 3-day is resting at 12.35 for Gaslog Ltd (GLOG). One research analyst has rated the stock with a sell rating, eight have given a hold rating and three have given a buy rating to the company. Wilder laid out the foundation for future technical analysts to further investigate the RSI and its relationship to underlying price movements. The RSI oscillates on a scale from 0 to 100. Normal oscillations tend to stay in the range of -100 to +100. A reading over 70 would indicate that the stock is overbought, and possibly overvalued. If the indicator travels under -80, this may signal that the stock is oversold. Presently, HSBC ETFS Plc (HEWD.L) has a 14-day Commodity Channel Index (CCI) of 88.33. Active investors may choose to use this technical indicator as a stock evaluation tool. Used as a coincident indicator, the CCI reading above +100 would reflect strong price action which may signal an uptrend. The original guidelines focused on creating buy/sell signals when the reading moved above +100 or below -100. Using the CCI as a leading indicator, technical analysts may use a +100 reading as an overbought signal and a -100 reading as an oversold indicator, suggesting a trend reversal.

HSBC ETFS Plc (HMEM.L) has watched the Triple Exponential Moving Average (TEMA) of it's share price trend higher over the past 5 session. Moving averages are considered to be lagging indicators meaning that they confirm trends. 2,942,231 shares of the stock traded hands, compared to its average volume of 2,230,117. It can be used instead of traditional moving averages for smoothing price data or other indicators.

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We can also take a look at the Average Directional Index or ADX of HSBC ETFS Plc (HMEM.L). HSBC ETFS Plc (HUKX.L)'s Williams %R presently stands at -19.46. ADX is used to gauge trend strength but not trend direction. ADX calculations are made based on the moving average price range expansion over a specified amount of time. The Williams %R is a momentum indicator that helps measure oversold and overbought levels. The Relative Strength Index (RSI) is a highly popular technical indicator.

Taking a peek at some Moving Averages, the 200-day is at 16.48, the 50-day is 17.64, and the 7-day is sitting at 18.85. A value of 25-50 would support a strong trend. Traders often add the Plus Directional Indicator (+DI) and Minus Directional Indicator (-DI) to identify the direction of a trend. A value of 50-75 would indicate a very strong trend, and a value of 75-100 would signify an extremely strong trend.


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