Shares of HSBC Holdings plc (HSBC) Sees Large Outflow of Money

HSBC Holdings plc (HSBC) : Net money flow in HSBC Holdings plc (HSBC) was negative ($1.62 million) and the inflow of money on uptick was $2.96 million, whereas, the outflow of money on downticks amounted to $4.58 million on Wednesday. The traders used every opportunity of price strength in the stock to sell their positions, hence, the total uptick to downtick ratio was 0.65. The block trades show that the large investors, were aggressive sellers in the stock. On the other hand, the total value of block trades done on downticks was $1.65 million. The money flow in block trades was negative ($1.65). HSBC Holdings plc (HSBC) gained $0.62 cent during the day and reached $32.59, a gain of 1.94% over the previous day.


Also, BNP Paribas upgrades its rating on HSBC Holdings plc (NYSE:HSBC). Analysts at the BNP Paribas have a current rating of Neutral on the shares. The shares were previously rated Underperform. The rating by the firm was issued on June 27, 2016.

HSBC Holdings plc (NYSE:HSBC): During Wednesdays trading session, Bulls were in full control of the stock right from the opening. The stock opened at $32.63 and $32.46 proved to be the low of the day. Continuous buying at higher levels pushed the stock towards an intraday high of $32.70. The buying momentum continued till the end and the stock did not give up its gains. It closed at $32.57, notching a gain of 1.88% for the day. The total traded volume was 2,157,403 . The stock had closed at $31.97 on the previous day.

The stock has recorded a 20-day Moving Average of 4.19% and the 50-Day Moving Average is 3.7%.

HSBC Holdings plc (HSBC) is the banking and financial services company. The Companys principal activities include making payments, holding savings, enabling trade, providing finance and managing risks. The Company operates in four businesses: Retail Banking and Wealth Management (RBWM), Commercial Banking (CMB), Global Banking and Markets (GB&M), and Global Private Banking (GPB). RBWM offers personal banking products and wealth management services. CMB offers a range of commercial financial services and solutions to customers ranging from small and medium-sized enterprises to publicly quoted companies. GB&M provides financial solutions to Government, corporate and institutional clients across the world. GPB offers products and services, which include private banking, investment management and private wealth solutions. It operates in Europe, Asia, Middle East and North Africa, North America and Latin America.

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