HSBC Holdings PLC

HSBC is in a Stage 2 advancing regime with a clear pattern of higher highs and higher lows, but price is significantly extended above rising EMAs and showing extreme overbought conditions on RSI and Options Score. We maintain a bullish medium-term bias but defer new entries until a pullback into the rising EMAs or consolidation near intermediate support for a more favorable structure.

• ↑Q1 profit before tax $10.1B (+4% YoY) on $19.1B revenue (+4%)
• ↑Banking NII guidance raised to ~$46B for 2026 on stronger rate outlook
• ↓ECL guidance increased to ~45 bp, reflecting higher credit loss reserves