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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)

HSBA Daily Candle Chart