SaxoTV
Neighbour: Why HSBC is a buy
208 views
HSBC (LON: HSBA) shares have big potential this Friday, according to Central Markets' Joe Neighbour. He says they've recently completed a triple bottom formation on the breakthrough resistance at 635p. The subsequent pullback to test the support has held nicely which has led to the creation of a bull flag. This bullish continuation pattern completed last week and the shares look set to move higher. The relative ratio also looks bullish and supports this buy recommendation.
He's looking to buy at market, targeting a move to 685p with a stop at 632p.