Following these proceedings, 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 jump 2.81% to $46.44. Over the last five days, the stock has gained 4.08%. HSBC Holdings plc ADR shares have risen nearly 17.27% since the year began. Nevertheless, the stocks have risen 29.50% over the past one year. While a 52-week high of $46.07 was reached on 10/29/24, a 52-week low of $34.48 was recorded on 03/11/24. SMA at 50 days reached $44.27, while 200 days put it at $42.21.
Levels Of Support And Resistance For HSBC Stock
The 24-hour chart illustrates a support level at 46.14, which if violated will result in even more drops to 45.84. On the upside, there is a resistance level at 47.00. A further resistance level may holdings at 47.57. The Relative Strength Index (RSI) on the 14-day chart is 64.66, which indicates neutral technical sentiment, while the Moving Average Convergence Divergence (MACD) stands at 0.79, which suggests price will go down in the next trading period. Percent R suggests that price movement has been bullish at 23.88%. Stochastics %K at 72.16% 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 2024-10-15, growing by 59342.0 shares to a total of 7.46 million shares. Yahoo Finance data shows the prior-month short interest on 2024-09-13 was 7.4 million shares. There was a rise of 0.8%, which implies that there is a positive sentiment for the stock.
