This Banking Stock Just Hit New 10-Year Highs

-
HSBC (HSBC) is trading at new 10-year highs and boasts strong technical momentum.
-
Shares are up nearly 57% over the past year.
-
The stock boasts a 2.8% dividend yield and has fundamentals that support its technical strength.
-
Analyst sentiment is positive but mixed, with most ratings between “Strong Buy” and “Hold.”
Valued at $250 billion, HSBC (HSBC) is a major global banking and financial services firm. HSBC has a global presence with operations and offices all around the globe.
The company is involved in wealth and personal banking, commercial and corporate banking, and global banking. One of the most interesting aspects of its business right now is that it gives investors access to growth in the wealth management industry in Asia.
I found today’s Chart of the Day by using Barchart’s powerful screening functions to sort for stocks with the highest technical buy signals; superior current momentum in both strength and direction; and a Trend Seeker “buy” signal. I then used Barchart’s Flipcharts feature to review the charts for consistent price appreciation. HSBC checks those boxes. Since the Trend Seeker signaled a new “Buy” on Aug. 8 the stock has gained 13.04%.
HSBC Price vs. Daily Moving Averages:
Editor’s Note: The technical indicators below are updated live during the session every 20 minutes and can therefore change each day as the market fluctuates. The indicator numbers shown below therefore may not match what you see live on the Barchart.com website when you read this report. These technical indicators form the Barchart Opinion on a particular stock.
HSBC hit a 10-year high of $72.21 in intraday trading on Oct. 3.
-
HSBC has a Weighted Alpha of +62.68.
-
It has an 100% “Buy” opinion from Barchart.
-
The stock gained 56.91% over the past year.
-
HSBC has its Trend Seeker “Buy” signal intact.
-
It is trading above its 20-, 50-, and 100-day moving averages.
-
The stock made 11 new highs and gained 9.68% in the last month.
-
Relative Strength Index (RSI) is at 66.98.
-
There’s a technical support level around $71.86.
-
$250 billion market capitalization.
-
10.05x trailing price-earnings ratio.
-
2.77% Dividend yield
-
Revenue is projected to grow 2.45% this year and another 0.87% next year.
-
Earnings are estimated to increase 13.33% next year.
Do you want to build your own blog website similar to this one? Contact us