Is Buying 52-Week Stock Like HSBC Holdings plc a Winning Strategy?

 Is Buying 52 Week Stock Like HSBC Holdings plc a Winning Strategy?

The stock of HSBC Holdings plc (LON:HSBA) hit a new 52-week high and has GBX 670.64 target or 5.00% above today’s GBX 638.70 share price. The 9 months bullish chart indicates low risk for the GBX 126.55 billion company. The 1-year high was reported on Nov, 24 by Barchart.com. If the GBX 670.64 price target is reached, the company will be worth GBX 6.33 billion more.
The 52-week high event is an important milestone for every stock because it shows very positive momentum and is time when buyers come in. During such notable technical setup, fundamental investors usually stay away and are careful shorting or selling the stock. The stock decreased 0.61% or GBX 3.9 on November 24, hitting GBX 638.7. About 17.35M shares traded hands. HSBC Holdings plc (LON:HSBA) has risen 37.72% since April 27, 2016 and is uptrending. It has outperformed by 32.31% the S&P500.

HSBC Holdings plc (LON:HSBA) Ratings Coverage

Out of 26 analysts covering HSBC Holdings PLC (LON:HSBA), 8 rate it a “Buy”, 5 “Sell”, while 13 “Hold”. This means 31% are positive. HSBC Holdings PLC has been the topic of 216 analyst reports since July 23, 2015 according to StockzIntelligence Inc. The rating was maintained by Investec with “Buy” on Monday, February 15. The firm earned “Hold” rating on Tuesday, August 4 by Deutsche Bank. The firm has “Equal Weight” rating given on Friday, March 11 by Barclays Capital. The firm earned “Market Perform” rating on Wednesday, March 16 by Wood. The firm earned “Buy” rating on Tuesday, August 4 by Societe Generale. The firm has “Sell” rating given on Monday, February 15 by Shore Capital. The rating was maintained by BNP Paribas with “Neutral” on Wednesday, August 12. The firm earned “Market Perform” rating on Friday, December 4 by Bernstein. The firm has “Neutral” rating given on Monday, December 7 by J.P. Morgan. Barclays Capital maintained HSBC Holdings plc (LON:HSBA) rating on Thursday, October 6. Barclays Capital has “Equal Weight” rating and GBX 550 price target.

HSBC Holdings plc is the banking and financial services company. The company has a market cap of 126.55 billion GBP. The Firm manages its services and products through approximately four businesses, such as Retail Banking and Wealth Management (RBWM), Commercial Banking (CMB), Global Banking and Markets (GB&M), and Global Private Banking (GPB). It currently has negative earnings. The Firm operates across various geographical regions, which include Europe, Asia, Middle East and North Africa, North America and Latin America.

Receive News & Ratings Via Email - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings with our FREE daily email newsletter.

Related posts

Leave a Comment