Despite all the woes affecting the banking sector right now,
The price has bounced off an important rising trendline, while directional indicators are near three-year extremes. While HSBC has underperformed the FTSE for some two years, we believe there is short-term upside potential to around 575p.
City Trades are written by selected external contributors and are based on the interpretation of patterns on a share price chart, rather than on fundamental analysis of the company's business or prospects.
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