TECHNICAL ANALYSIS

HSBC is trading above both the 20-day and 50-day EMAs, indicating a bullish trend over the short to medium term. Additionally, the upward slope of both EMAs suggests continued positive momentum, which is a good sign for sustained gains. Moreover, the MACD is above the signal line, further reinforcing the bullish outlook. We expect the rising momentum to steer the stock higher and test the next level of resistance in the near term.

Fundamentals

Net profit will remain stable for the next 3 years with strong net margins higher than 33%.

Source: Rakuten Research - 8 Oct 2024

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