FXstreet

This could be attributed to a 7% y-o-y drop in the wealth & personal banking unit, followed by a 4% decline in global banking & markets. HSBC stock (NYSE: HSBC) is trading around the same level as at the start of 2022, whereas S&P500 has dropped 17% over the same period. Further, at the current price of $30 per share, it is 29% below its fair value of $42.



The weekly price broke 200 SMA to below for the primary bearish trend to be resumed. The price is trying to cross 55 SMA to below for the 27.86 support level as the nearest tarhet at 100 SMA to possible re-enter.

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