HSBC PLC (HBC) NewsBite - HBC Is On the Move

Posted: Wednesday, April 01, 2009 10:56 AM EDT

HSBC PLC (HBC) appears to be on the move today and is now at $29.95, up $1.73 (6.14%) on volume of 1,592,776 shares traded. Over the last 52 weeks the stock has ranged from a low of $22.89 to a high of $88.15. HSBC PLC stock has been showing support around $26.81 and resistance in the $29.63 range. Technical indicators for the stock are bullish and S&P gives HBC a positive 4 STARS (out of 5) buy ranking. If you are looking for a hedged play on HBC the stock seems like it could be a candidate for an April out-of-the-money bull-put credit spread below the 26 range. [ABR-Seven Summits Strategic Investments NewsBite]

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