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Stock Investors Bid Up Shares of HSBC Holdings, Up 1.6%

Published on Tue, 02/12/2013 - 13:22
By Robert Cotter

HSBC Holdings (NYSE:HBC) is one of today's notable stocks on the rise, up 1.6% to $57.12. The S&P is currently trading 0.2% higher to 1,520 and the Dow Jones Industrial Average is trading 0.3% higher to 14,016.

Over the past year, HSBC Holdings has traded in a range of $38.56 to $57.37 and is now at $57.12, 48% above that low. In the last five trading sessions, the 50-day moving average (MA) has climbed 0.7% while the 200-day MA has risen 0.4%.

HSBC Holdings plc is the holding company for the HSBC Group. The Company provides a variety of international banking and financial services, including retail and corporate banking, trade, trusteeship, securities, custody, capital markets, treasury, private and investment banking, and insurance. The Group operates worldwide.

HSBC Holdings (NYSE:HBC) is currently priced 3.8% above its average consensus analyst price target of $54.93. The stock should discover initial support at its 50-day moving average (MA) of $53.85 and subsequent support at its 200-day MA of $47.19.

By Robert Cotter
rcotter@fnno.com