<ul class="list-ic vertical">
 <li><span>1</span> <a>HSBC (LON: HSBA) stock price: The company has made an acquisition in China, see the details.</a></li>
 <li><span>2</span> <a>The stock is near breaking its resistance zone but the RSI is already on the oversold level of 67.</a></li>
 <li><span>3</span> <a>The company has made a revenue growth of 43% last year.</a></li>
</ul>
<p>HSBC (LON: HSBA) stock price has risen more than 37% in a year while the financial performance has also been amazing during the period. In 2022, the HSBA stock managed to generate a revenue of £76 Billion. That marks a significant 43% growth as compared to the previous year.&nbsp;&nbsp;</p>
<p>Moreover, the net income was reported to be £12.03 Billion, which accounts for approximately 15% of the total revenue. With an increase in profits, the company distributed over 44% of the net profit in dividends. It translates to a dividend per share (DPS) of £0.27 and a Dividend yield of 5.18%.</p>
<h2 class="wp-block-heading" id="strong-the-acquisition-strong"><strong>The acquisition</strong></h2>
<p>HSBC is all set to make an acquisition deal with Citigroup’s (C.N) China consumer wealth management corporation. Citi has an asset under management of over £3B.&nbsp; However, HSBC and Citi declined to comment on the amount and size of this deal. The action would add to a rundown of late moves by HSBC to grow its presence in China, one of its key business sectors.&nbsp;</p>
<h3 class="wp-block-heading" id="strong-the-plan-behind-the-acquisition-strong"><strong>The plan behind the acquisition</strong></h3>
<p>The acquisition adds to a list of moves by HSBC to expand in China, one of its key markets. Europe’s largest lender vows to exit less profitable geographies to focus on its vital revenue generator, Asia. This move by HSBC also comes while expanding contest in the area, as unfamiliar resource administrators will likely take advantage of China’s developing working class.</p>
<h2 class="wp-block-heading" id="strong-technical-analysis-and-prediction-of-hsba-stock-price-strong"><strong>Technical Analysis and Prediction of HSBA Stock Price</strong></h2>
<div class="wp-block-image">
 <figure class="aligncenter"><img decoding="async" src="https://lh4.googleusercontent.com/p-PEP6YtskYNezViTJ1pRYsrr5Gfy4F8kG1Dg2qZVXwtgm4H6cl8ou0Fq8GZvfwCfKZvK9K6GoiAHoeXGQxLcqwlrA8K7wfu3tDyvZEbPY2KrE4cxwujs1hecE0LU2qzNDkoJM1WeMaL3hJBuOQPnIc" alt="HSBC Stock Price:&nbsp; HSBC to Expand in China, Don’t Miss the Action">
  <figcaption class="wp-element-caption">
   Chart provided by<a href="https://in.tradingview.com/chart/1SBAxzHq/?symbol=LSE%3AHSBA" rel="noopener noreferrer nofollow"> Tradingview </a>(daily time frame)
  </figcaption>
 </figure>
</div>
<p>The HSBA stock price is currently trading at the level of £650. As the bulls reclaimed their support level of £561, the shares surged to the immidiate resistance of £652. The 50-day moving average is £621, while the 150-day moving average is £602.&nbsp;</p>
<p>As the bulls have reached the level of the supply zone, the RSI has also reached its overbought level of 70. That means the bulls might have a problem breaking the resistance as the selling pressure will be higher.</p>
<p>The prediction of HSBA <a href="https://www.thecoinrepublic.com/2023/09/13/iag-stock-price-half-yearly-reports-overwhelm-the-investors/" target="_blank" rel="noopener noreferrer nofollow">stock price</a> will be bullish, but only after a deviation at the resistance, as the RSI suggests. A fresh, long entry can be made if the trend reversal is observed after the deviation. On the other hand, if the sell pressure is intense, the stock may test its support again.</p>
<h4 class="wp-block-heading"><strong>Conclusion</strong></h4>
<p>HSBC (LON: HSBA) has acquired a company from China. The acquisition adds to a list of moves by HSBC to expand in China. This company has been performing well in the last year by growing its revenue and distributing dividends. The current price is near its resistance, but it is predicted that a deviation will come before the breakout for a bullish trend.</p>
<h4 class="wp-block-heading"><strong>Technical Levels</strong></h4>
<p>Support: £599 and&nbsp; £561</p>
<p>Resistance: £652 and £694</p>
<h5 class="wp-block-heading"><strong>Disclaimer</strong></h5>
<p>The views and opinions stated by the author, or any people named in this article, are for informational purposes only. They do not establish financial, investment, or other advice. Investing in or trading crypto assets or stocks comes with a risk of financial loss.</p>

HSBC Stock Price: HSBC to Expand in China, Don’t Miss the Action

Table of Contents

Thecoinrepublic.com

Other articles published on Oct 6, 2023

Kraken plans to expand throughout Europe by acquiring Dutch exchange BCM.

Top Bitcoin Holders: Who Owns the Most BTC?

Stake, Bet & Get Rewards – Why Meme Kombat is the Best Meme Coin of 2023

Europe leaders summit faces unexpected drama

Voyager Digital Co-Founder Faces CFTC Scrutiny Over Law Violations

Daily Analysis: BTC, ETH, AVAX, TWT, XRP

Join our free newsletter for daily crypto updates!