HSBC PLC (HBC) NewsBite - HBC Could Be On the Move

Posted: Wednesday, June 10, 2009 2:28 PM EDT

HSBC PLC (HBC) could be on the move today and is now at $44.33, up $2.03 (4.80%) on volume of 1,083,497 shares traded. Over the last 52 weeks the stock has ranged from a low of $22.89 to a high of $86.50. HSBC PLC stock has been showing support around $41.79 and resistance in the $42.99 range. Technical indicators for the stock are neutral and S&P gives HBC a neutral 3 STARS (out of 5) hold ranking. If you are looking for a hedged play on HBC the stock seems like it could be a candidate for a September out-of-the-money bull-put credit spread below the 35 range. [ABR-Seven Summits Strategic Investments NewsBite]

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