As this happened, Barclays downgraded its HSBC Holdings plc ADR [HSBC] rating to an Equal weight from a an Overweight in a research note published recently. A number of analysts have revised their coverage, including Exane BNP Paribas’s analysts, who decreased its forecast for the stock in mid January from “a Neutral” to “an Underperform”. RBC Capital Mkts also remained covering HSBC and has decreased its forecast on November 22, 2023 with a “Sector perform” recommendation from previously “an Outperform” rating. Societe Generale revised its rating on October 17, 2023. It rated HSBC as “a Sell” which previously was an “a Hold”.
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Price Performance Review of HSBC
On Tuesday, HSBC Holdings plc ADR [NYSE:HSBC] saw its stock fall -3.83% to $43.92. Over the last five days, the stock has lost -1.50%. HSBC Holdings plc ADR shares have risen nearly 10.90% since the year began. Nevertheless, the stocks have risen 11.07% over the past one year. While a 52-week high of $46.07 was reached on 09/26/24, a 52-week low of $34.48 was recorded on 03/11/24. SMA at 50 days reached $43.55, while 200 days put it at $41.89.
Levels Of Support And Resistance For HSBC Stock
The 24-hour chart illustrates a support level at 43.73, which if violated will result in even more drops to 43.54. On the upside, there is a resistance level at 44.22. A further resistance level may holdings at 44.51. The Relative Strength Index (RSI) on the 14-day chart is 46.17, which indicates neutral technical sentiment, while the Moving Average Convergence Divergence (MACD) stands at 0.09, which suggests price will go down in the next trading period. Percent R suggests that price movement has been bearish at 96.20%. Stochastics %K at 59.40% indicates the stock is a holding.
How much short interest is there in HSBC Holdings plc ADR?
A steep rise in short interest was recorded in HSBC Holdings plc ADR stocks on 2024-09-13, dropping by -0.41 million shares to a total of 7.88 million shares. Yahoo Finance data shows the prior-month short interest on 2024-08-15 was 8.29 million shares. There was a decline of -5.22%, which implies that there is a negative sentiment for the stock.
