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| UK stock pick of the day |
RECOMMENDATION
Sell
TARGET
The major trend of Hsbc Holding Plc is Bullish and from last few
trading session it's showing selling pressure .One can initiates the
position in the stock with the strategy of selling at higher
level.Stock has facing major support level of 642 breaching of it can
test the level of 600 with the stop loss of 655.
CHART FORMATION:-
Stock has forming rounding top which is reversal pattern breaching of
the support level it can test the level of 600.
It's managing to trade below 50 DMA and facing support of 200 DMA
breaching of 200 DMA can further show down side movement.
INDICATORS:-
RSI is trading below the level of 50 and looking further bearish.
MACD & Signal line is manages to sustain below zero level line
with negative bias.
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