Annual Forecast for HSBC (2018)

HSBC stock (LSE:HSBC) is not currently looking sexy because the market is rough. Although the market was bearish last month, the month of February 2018 has been rough so far.

The ADX period 14 is at the level 30 (high momentum), while the-DM is above the +DM (sell signal). However, the MACD default parameters, has its signal lines below the zero line, while its histogram is above the zero line (mixed signals).

What would the market movement be for this year? The recent bias on the market is bearish. The ADX 14 is bearish, and the MACD is partly bearish. The fact that the histogram is above the zero line is brought about by the current rally effort in the market, which may soon fade.

Therefore the outlook on HSBA is strongly bearish for this year. Further southwards movement is expected.

Azeez Mustapha

Market Analyst, Trading Signals Provider and Coach

Traders’ realities: Trading realities 

  

Source: http://uk.advfn.com/newspaper/authors/azeez-mustapha

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