#FTSE #Nasdaq The largest bank in Europe and rated 20th largest company in the world by Forbes, HSBC remains out favourite goto bank for gossip and controversy if reading their Wikipedia entry. The most recent report in 2023 suggested they have been “complicit in the repression of human rights”, an investigation chaired by the fragrant Alistair Carmichael, someone once found not guilty of misleading voters but spectacularly failed to win his court costs estimated at £150,000, a result which shouted louder than the courts verdict. But it was no surprise to discover he was earning extra funds, chairing a drawn out UK parliamentary enquiry into the activities of HSBC.
Something has changed with HSBC share price, the value of the share being gapped up above a significant Blue downtrend which dates back to 2007. We are not inclined to view this price manipulation as an accident, instead feeling inclined to suspect the UK market feels it may be time for the Financial Sector to start producing some recovery.
HSBC are already trading above the high pre-pandemic of 600p, this usually being the first big signal a share price is entering a proper recovery phase. The fact the market opted to gap it above this Blue downtrend should be the next big signal of good times ahead. This being the case above 703p should now promote a visit to an initial 718 with our secondary, if exceeded, calculating at 748p.
From our perspective, this secondary target is quite a big deal, due to closure above 733p taking the share price into a zone with a long term attraction coming from a future 898p.
If HSBC intend fall victim to something being very tentatively called “Londonitis”, a dodgy attempt at naming the frustration felt by investors & traders at the lacklustre performance of the UK stock market (it could have been worse, something like FTSE Gate), their share price currently needs below 657 to cause trouble, risking a visit down to an initial 621 with our secondary, if broken, working out at 560p and hopefully a bottom.
Oh, welcome to May and some genuine optimism for a bank share price.
FUTURES
| Time Issued | Market | Price At Issue | Short Entry | Fast Exit | Slow Exit | Stop | Long Entry | Fast Exit | Slow Exit | Stop | Prior |
| 10:44:06PM | BRENT | 8590.2 | Success | ||||||||
| 10:48:45PM | GOLD | 2285.63 | Success | ||||||||
| 10:51:46PM | FTSE | 8125.6 | 8120 | 8093 | 8071 | 8160 | 8159 | 8174 | 8192 | 8136 | Shambles |
| 10:55:24PM | STOX50 | 4890.9 | Success | ||||||||
| 10:58:26PM | GERMANY | 17856 | Success | ||||||||
| 11:00:58PM | US500 | 5024.6 | Success | ||||||||
| 11:04:05PM | DOW | 37816 | Success | ||||||||
| 11:08:32PM | NASDAQ | 17373 | 17339 | 17185 | 16973 | 17511 | 17625 | 17742 | 17876 | 17546 | Success |
| 11:15:08PM | JAPAN | 38028 | Shambles |
30/04/2024 FTSE Closed at 8144 points. Change of -0.04%. Total value traded through LSE was: £ 5,927,984,853 a change of 22.51%
29/04/2024 FTSE Closed at 8147 points. Change of 0.1%. Total value traded through LSE was: £ 4,838,878,420 a change of -6.86%
26/04/2024 FTSE Closed at 8139 points. Change of 0.76%. Total value traded through LSE was: £ 5,195,337,438 a change of -32.25%
25/04/2024 FTSE Closed at 8078 points. Change of 0.47%. Total value traded through LSE was: £ 7,668,407,153 a change of -4.61%
24/04/2024 FTSE Closed at 8040 points. Change of -0.05%. Total value traded through LSE was: £ 8,038,861,258 a change of 24.9%
23/04/2024 FTSE Closed at 8044 points. Change of 0.26%. Total value traded through LSE was: £ 6,436,213,150 a change of 18.32%
22/04/2024 FTSE Closed at 8023 points. Change of 1.62%. Total value traded through LSE was: £ 5,439,622,583 a change of -22.9% 
SUCCESS above means both FAST & SLOW targets were met. ‘CESS means just the FAST target met and probably the next time it is exceeded, movement to the SLOW target shall commence.
Our commentary is in two sections. Immediately below are today’s updated comments. If our commentary remains valid, the share can be found in the bottom section which has a RED heading. Hopefully, this will mean you no longer need to flip back through previous reports. HYPERLINKS DISABLED IN THIS VERSION
Please remember, all prices are mid-price (halfway between the Buy and Sell). When we refer to a price CLOSING above a specific level, we are viewing the point where we can regard a trend as changing. Otherwise, we are simply speculating on near term trading targets. Our website is www.trendsandtargets.com.
UPDATE. We often give an initial and a secondary price. If the initial is exceeded, we still expect it to fall back but the next time the initial is bettered, the price should continue to the secondary. The converse it true with price drops.
We can be contacted at info@trendsandtargets.com. Spam filters set to maximum so only legit emails get through…
Section One – Outlook Updated Today. Click here for Section Two – Outlook Remains Valid shares
Click Epic to jump to share: LSE:AAL Anglo American** **LSE:ECO ECO (Atlantic) O & G** **LSE:HL. Hargreaves Lansdown** **LSE:HSBA HSBC** **LSE:SCLP Scancell** **
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Updated charts published on : Anglo American, ECO (Atlantic) O & G, Hargreaves Lansdown, HSBC, Scancell,
LSE:AAL Anglo American Close Mid-Price: 2634 Percentage Change: -4.22% Day High: 2786 Day Low: 2618
Continued trades against AAL with a mid-price ABOVE 2786 should improve t ……..
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View Previous Anglo American & Big Picture ***
LSE:ECO ECO (Atlantic) O & G. Close Mid-Price: 11.5 Percentage Change: + 6.48% Day High: 12.25 Day Low: 10.8
Target met. All ECO (Atlantic) O & G needs are mid-price trades ABOVE 12. ……..
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View Previous ECO (Atlantic) O & G & Big Picture ***
LSE:HL. Hargreaves Lansdown. Close Mid-Price: 813.8 Percentage Change: + 3.59% Day High: 852.6 Day Low: 808.2
Further movement against Hargreaves Lansdown ABOVE 852.6 should improve a ……..
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View Previous Hargreaves Lansdown & Big Picture ***
LSE:HSBA HSBC. Close Mid-Price: 695.6 Percentage Change: + 4.12% Day High: 702.4 Day Low: 677.6
Target met. In the event of HSBC enjoying further trades beyond 702.4, th ……..
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View Previous HSBC & Big Picture ***
LSE:SCLP Scancell Close Mid-Price: 8.92 Percentage Change: -6.60% Day High: 9.55 Day Low: 9.3
In the event Scancell experiences weakness below 9.3 it calculates with a ……..
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View Previous Scancell & Big Picture ***