HSBC Holdings plc (HSBC) : Traders are bullish on HSBC Holdings plc (HSBC) as it has outperformed the S&P 500 by a wide margin of 9.51% in the past 4 weeks. The bullishness in the stock continues even in the near-term as the stock has returned an impressive 1.24%, relative to the S&P 500. The stock has continued its bullish performance both in the near-term and the medium-term, as the stock is up 1.29% in the last 1 week, and is up 10.64% in the past 4 weeks. Buying continues as the stock moves higher, suggesting a strong appetite for the stock.
The stock has recorded a 20-day Moving Average of 7.61% and the 50-Day Moving Average is 11.44%. HSBC Holdings plc (NYSE:HSBC): On Fridays trading session , Opening price of the stock was $35.25 with an intraday high of $35.31. The bears continued to sell at higher levels and eventually sold the stock down to an intraday low of $35.135. However, the stock managed to close at $35.25, a loss of 0.14% for the day. On the previous day, the stock had closed at $35.3. The total traded volume of the day was 1,402,785 shares.
Institutional Investors own 2.4% of HSBC Holdings plc shares. Also, Bank of America upgrades its view on HSBC Holdings plc (NYSE:HSBC) according to the research report released by the firm to its investors. The shares have now been rated Buy by the stock experts at the ratings house. Earlier, the shares had a rating of Neutral. The rating by the firm was issued on August 4, 2016.
HSBC Holdings plc (HSBC) is the banking and financial services company. The Companys principal activities include making payments, holding savings, enabling trade, providing finance and managing risks. The Company operates in four businesses: Retail Banking and Wealth Management (RBWM), Commercial Banking (CMB), Global Banking and Markets (GB&M), and Global Private Banking (GPB). RBWM offers personal banking products and wealth management services. CMB offers a range of commercial financial services and solutions to customers ranging from small and medium-sized enterprises to publicly quoted companies. GB&M provides financial solutions to Government, corporate and institutional clients across the world. GPB offers products and services, which include private banking, investment management and private wealth solutions. It operates in Europe, Asia, Middle East and North Africa, North America and Latin America.