HSBC PLC (HBC) NewsBite - HBC Hits 52-Week High on Earnings
Posted: Tuesday, November 10, 2009 10:09 AM EDT
By: Market Intelligence Center Staff
HSBC PLC (NYSE: HBC) hit a new 52-Week high of $60.23 so far today. Currently the stock is up $1.77 (3.04%) to $60.07 on 641,171 shares traded. Today's high is up $37.18 from a 52-Week Low of $22.89. HBC reported earnings this morning, posting a third-quarter profit of $161 million with interest income of $254 million and "other revenue" of $895 million. HSBC PLC stock has been showing support around $57.65 and resistance in the $58.73 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 January out-of-the-money bull-put credit spread below the 50 range. [ABR-Seven Summits Strategic Investments NewsBite]
CLICK HERE: FREE HSBC PLC (HBC) Stock ReportSee what our analysts have uncovered about HSBC PLC (HBC).