TMCnet News
Downgrade Alert for HSBC Holdings (HBC)Feb 01, 2013 (SmarTrend(R) Upgrades/Downgrades via COMTEX) -- HSBC Holdings (NYSE:HBC) was downgraded from Buy to Neutral at Citigroup today. The stock closed yesterday at $56.87 on volume of 1.8 million shares, above average daily volume of 1.4 million. HSBC Holdings (NYSE:HBC) defies analysts with a current price ($56.86) 3.4% above its average consensus price target of $54.93. HSBC Holdings shares have support at the 50-day moving average (MA) of $52.95 and additional support at the 200-day MA of $46.78. HSBC Holdings plc is the holding company for the HSBC Group. The Company provides a variety of international banking and financial services, including retail and corporate banking, trade, trusteeship, securities, custody, capital markets, treasury, private and investment banking, and insurance. The Group operates worldwide. In the past 52 weeks, HSBC Holdings share prices have been bracketed by a low of $38.56 and a high of $57.37 and closed yesterday at $56.86, 47% above that low price. Over the last five market days, the 200-day moving average (MA) has gone up 0.6% while the 50-day MA has advanced 1.4%. SmarTrend recommended that subscribers consider buying shares of HSBC Holdings on August 8th, 2012 as our proprietary SmarTrend analytics indicated a new Uptrend was in progress when shares hit $43.91. Since that recommendation, shares of HSBC Holdings have risen 29.5%. We continue to monitor HBC for any potential shift so investors can protect gains and will alert SmarTrend subscribers immediately. Write to Chip Brian at [email protected] --------------------------------------------------------------------------------------------- SmarTrend analyzes over 5,000 securities simultaneously throughout the trading day and provides its subscribers with trend change alerts in real time. To get a free trial of our trading calls and maximize your trading results, please visit http://www.MySmarTrend.com Get exclusive, actionable insight into how the market is expected to trend prior to market open with our free morning newsletter. Sign up at: http://www.MySmarTrend.com/signup |