This report is not a personal recommendation and does not take into account your personal circumstances or appetite for risk.
HSBC
HSBC (HSBA)
Will shares fall back towards recent lows of 497p or rally towards 600p highs?
Technical Observations
- Shares are testing a key resistance level at 544p
- A Bullish quadruple bottom reversal pattern could complete around 560p (+3%)
- Technical indicators are overbought
- Momentum has topped out
Broker Consensus: 32% Buy, 42% Hold, 26% Sell
Average 12-month target price: 513p, -6% (revisions possible)
Bullish: BNP Paribas, Buy, Target 603p, +11% (10 Aug)
Bearish: Bernstein, Underperform, Target 350p, -34% (3 Aug)
All pricing and consensus data from Bloomberg on 12 Aug; Consensus breakdown available on request
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Prepared by Michael van Dulken, Head of Research
