Sell signal, week 2 · EU-UK stocks
HSBC falls 3.2%: turned away at the averages it just lost, down to the 200-day line
Our view last week
After 19 weeks above zero, HSBC's money flow has turned negative, and the week closed down 4.6% with a new 30-day low. HSBC stock lost its 20-week and 100-day moving averages in one go: the uptrend that was slowing a week ago has given way to a new sell signal. The technical analysis reads a price action in distribution, yet the price holds above its 50-week average, and the trade setup still awaits its confirmation week.
This week's summary
HSBC tried to climb back to the averages it lost last week and was turned away: the week closed down 3.2% after a dip to the 200-day moving average, in the 1370 area, and a new 30-day low. For HSBC stock it is the 2nd straight weekly decline after the previous 4.6% drop, with money flow still negative. The technical analysis reads a decline that is holding its pace, on contracting volumes and with price still above its 50-week average: the trade setup stays under observation.
IQS Phase
70
in tension
Signal Strength
81
downtrend making lower lows, pace holding
Sizing
STANDARD
Ranking
#6 / 93
EU-UK stocks sell signals
Trade P&L %
+3.22%
from signal to date, no stop loss
HSBC (HSBA) weekly chart — EMA50 · MACD · VWAP
Weekly chart · EMA50 · MACD · VWAP · Source: TradingView
Rank position
ranks 6th among the 93 sell signals for European-UK stocks in our ranking, with a signal strength of 81 out of 100.
Sector context
SectorEuropean
Benchmark ETFEXV1
Sector regimeweak phase
Performanceweekly -2.32% · monthly -7.57%
HSBA belongs to the european sector (reference ETF EXV1). The sector is classified weak phase according to our weekly reading.
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