HSBC Holdings plc (HSBC) : Traders are bullish on HSBC Holdings plc (HSBC) as it has outperformed the S&P 500 by a wide margin of 11.29% in the past 4 weeks. The bullishness in the stock continues even in the near-term as the stock has returned an impressive 5.81%, relative to the S&P 500. The stock has continued its bullish performance both in the near-term and the medium-term, as the stock is up 6.26% in the last 1 week, and is up 14.06% in the past 4 weeks. Buying continues as the stock moves higher, suggesting a strong appetite for the stock.
HSBC Holdings plc (NYSE:HSBC): During Fridays trading session, Bulls were in full control of the stock right from the opening. The stock opened at $34.51 and $34.50 proved to be the low of the day. Continuous buying at higher levels pushed the stock towards an intraday high of $34.80. The buying momentum continued till the end and the stock did not give up its gains. It closed at $34.80, notching a gain of 1.61% for the day. The total traded volume was 2,282,460 . The stock had closed at $34.25 on the previous day.
The stock has recorded a 20-day Moving Average of 7.95% and the 50-Day Moving Average is 9.36%. HSBC Holdings plc is up 12.12% in the last 3-month period. Year-to-Date the stock performance stands at -7.54%.
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.