Thoughts on HSBC?

Hey guys!! I have brought today's setup$HSBC Holdings plc(00005.HK)$

On the H4, with prices bouncing off the ichimoku support, we have a bullish bias that price will rise to our buy entry at 52.80 where the swing high resistance and 78.6% fibonacci retracement are. Once there is upside confirmation, I would expect bullish momentum to carry price to intermediate resistance at 55.15 where swing high resistance, 100% fibonacci projection and 161.8% fibonacci extension are. Should price breaks intermediate resistance, I would have a bullish bias that price will rise to take profit at 59.60 where swing high resistance and 161.8% fibonacci extension are. Alternatively, price could drop to intermediate support at 48.25 in line with swing low support and 100% fibonacci projection. Should price break past intermediate support, price would have a bearish bias to drop to stop loss at 46.50 in line with swing low support and 78.6% fibonacci retracement.

Entry: 52.80 [Smile]

Intermediate resistance: 55.15 [Happy]

Take Profit: 59.60 [Miser]

Intermediate Support: 48.25 [Facepalm]

Stop Loss: 46.50 [Cry]

Technical Analysis

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Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.

Comments

powerbert
2022-07-04
powerbert
I still prefer Singapore banks.
PandoraHaggai
2022-07-06
PandoraHaggai
This post gave me a reference, thanks for sharing.
MortimerDodd
2022-07-05
MortimerDodd
Great post, looking forward to your next post.
Moolele
2022-07-04
Moolele
Short term double top potential? 😅
BenjiFuji
2022-07-04
BenjiFuji
Wow. Out of my COC.
lyj1999
2022-07-04
lyj1999
us stock

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I have brought today's setup$HSBC Holdings plc(00005.HK)$</p><p>On the H4, with prices bouncing off the ichimoku support, we have a bullish bias that price will rise to our buy entry at 52.80 where the swing high resistance and 78.6% fibonacci retracement are. Once there is upside confirmation, I would expect bullish momentum to carry price to intermediate resistance at 55.15 where swing high resistance, 100% fibonacci projection and 161.8% fibonacci extension are. Should price breaks intermediate resistance, I would have a bullish bias that price will rise to take profit at 59.60 where swing high resistance and 161.8% fibonacci extension are. Alternatively, price could drop to intermediate support at 48.25 in line with swing low support and 100% fibonacci projection. Should price break past intermediate support, price would have a bearish bias to drop to stop loss at 46.50 in line with swing low support and 78.6% fibonacci retracement.</p><p>Entry: 52.80&nbsp;<span><span>[Smile]</span></span>&nbsp;</p><p>Intermediate resistance: 55.15&nbsp;<span><span>[Happy]</span></span>&nbsp;</p><p>Take Profit: 59.60&nbsp;<span><span>[Miser]</span></span>&nbsp;</p><p>Intermediate Support: 48.25&nbsp;<span><span>[Facepalm]</span></span>&nbsp;</p><p>Stop Loss: 46.50&nbsp;<span><span>[Cry]</span></span>&nbsp;</p><p class=\"t-img-caption\"><img src=\"https://community-static.tradeup.com/news/7314e8e760f84ad843bd4a2cf93e9bea\"></p></body></html>","htmlText":"<html><head></head><body><p>Hey guys!! I have brought today's setup$HSBC Holdings plc(00005.HK)$</p><p>On the H4, with prices bouncing off the ichimoku support, we have a bullish bias that price will rise to our buy entry at 52.80 where the swing high resistance and 78.6% fibonacci retracement are. Once there is upside confirmation, I would expect bullish momentum to carry price to intermediate resistance at 55.15 where swing high resistance, 100% fibonacci projection and 161.8% fibonacci extension are. Should price breaks intermediate resistance, I would have a bullish bias that price will rise to take profit at 59.60 where swing high resistance and 161.8% fibonacci extension are. Alternatively, price could drop to intermediate support at 48.25 in line with swing low support and 100% fibonacci projection. Should price break past intermediate support, price would have a bearish bias to drop to stop loss at 46.50 in line with swing low support and 78.6% fibonacci retracement.</p><p>Entry: 52.80&nbsp;<span><span>[Smile]</span></span>&nbsp;</p><p>Intermediate resistance: 55.15&nbsp;<span><span>[Happy]</span></span>&nbsp;</p><p>Take Profit: 59.60&nbsp;<span><span>[Miser]</span></span>&nbsp;</p><p>Intermediate Support: 48.25&nbsp;<span><span>[Facepalm]</span></span>&nbsp;</p><p>Stop Loss: 46.50&nbsp;<span><span>[Cry]</span></span>&nbsp;</p><p class=\"t-img-caption\"><img src=\"https://community-static.tradeup.com/news/7314e8e760f84ad843bd4a2cf93e9bea\"></p></body></html>","text":"Hey guys!! I have brought today's setup$HSBC Holdings plc(00005.HK)$ On the H4, with prices bouncing off the ichimoku support, we have a bullish bias that price will rise to our buy entry at 52.80 where the swing high resistance and 78.6% fibonacci retracement are. Once there is upside confirmation, I would expect bullish momentum to carry price to intermediate resistance at 55.15 where swing high resistance, 100% fibonacci projection and 161.8% fibonacci extension are. Should price breaks intermediate resistance, I would have a bullish bias that price will rise to take profit at 59.60 where swing high resistance and 161.8% fibonacci extension are. Alternatively, price could drop to intermediate support at 48.25 in line with swing low support and 100% fibonacci projection. Should price break past intermediate support, price would have a bearish bias to drop to stop loss at 46.50 in line with swing low support and 78.6% fibonacci retracement. Entry: 52.80 [Smile] Intermediate resistance: 55.15 [Happy] Take Profit: 59.60 [Miser] Intermediate Support: 48.25 [Facepalm] Stop Loss: 46.50 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