22nd May 2023. 1.52pm
![TAKE PROFITS HSBC (HSBA)](https://regencyresearch.co.uk/wp-content/uploads/2022/08/HSBC.png)
Regency View:
TAKE PROFITS HSBC (HSBA)
![TAKE PROFITS HSBC (HSBA)](https://regencyresearch.co.uk/wp-content/uploads/2022/08/HSBC-300x150.png)
Regency View:
TAKE PROFITS HSBC (HSBA)
Close HSBC (HSBA) at 617.21p
Take a look at HSBC’s price chart and you will see that the stock has a tendency to respect key technical levels (support and resistance).
Recent price action has seen the stock rally into a zone of resistance created by the Feb/Mar double top and the large negative gap that formed following the Silicone Valley banking crisis.
With this in mind, we’re to be proactive and take our profit during a period of strength rather than wait for resistance to potentially kick-in.
Profit = +21.5% (including dividends)
Disclaimer:
All content is provided for general information only and should not be construed as any form of advice or personal recommendation. The provision of this content is not regulated by the Financial Conduct Authority.