ALPESH PATEL’S PICK OF THE DAY & FREE 30 DAY TRIAL EXCLUSIVELY TO SBM READERS
PICK OF THE DAY
HSBC Holdings PLC HSBA:LSE SELL
Today we’ve picked the HSBC Holdings Plc. as our pick of the day. HSBC Holdings Plc is a global banking and financial services organizations. As of December 31, 2012, it provided a range of financial services to around 58 million customers through four global businesses: Retail Banking and Wealth Management, Commercial Banking, Global Banking and Markets, and Global Private Banking.
In June 2012, the Company’s indirect wholly owned subsidiary, HSBC Iris Investments (Mauritius) Ltd, sold its 4.73% interest in Axis Bank Limited and 4.74% interest in Yes Bank Limited. In July 2012, its subsidiary, HSBC Europe (Netherlands B.V.), sold its 100% interest in HSBC Credit Zrt, to CentralFund Kockazati Tokealap. On March 31, 2013, Enstar Group Ltd’s subsidiary completed the acquisition from Household Insurance Group Holding Company of HSBC Insurance Company of Delaware and Household Life Insurance Company of Delaware, as well as its three subsidiary insurers.
Source: FinancialTimes.com
FUNDAMENTALS AND TECHNICALS
Company Financials
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Stock Price: 625.70 GBX |
Market Capitalization: £117.91bn |
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52-week range: 617 – 772.50 GBX |
Shares outstanding: 18.83bn |
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P/E (TTM) : 12.09 |
Annual div (TTM) : 28.57 GBP |
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EPS (TTM) : 0.5177 GBP |
Annual div yield (TTM) : 4.49% |
Chart
Created using Sharescope Pro
Fundamental and Technical Analysis
HSBC Holdings Plc. (HSBA:LSE) is trading at 625.70, which is 1.41% higher than its 52-week high set a couple of days ago. HSBC Holdings Plc. has been rated a 6 out 10 in our Value/Growth rating and gets an C Grade rating on our Bullish Momentum meter.
From a technical standpoint, the stock has been on a downtrend since mid last year and there is no reason for this not to continue. Weekly and monthly MACDs are leaving room for further decline and as such we’d like to short the stock.
We will short it at current levels and as our target we’re setting the 500GBp area for the next 2-4 months. As a primary stop level we will set the 700GBp area and we will gradually trail it lower using the descending trendline on the chart above.
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