HSBC Holdings is in downward trend and there are no technical levels allowing it to rebound.

From a fundamental viewpoint, the group is getting trouble to respect forecast and analysts have recently downgraded their forecasts for earnings per share. This indicator is often a precursor of a declining profitability and a worsening climate of investors' confidence.

Graphically, we can see that the stock is in a bearish trend with decreasing moving averages, which serve as slant resistance. The security just broke is previous support and is now moving towards GBp 573 and then the GBp 560 support.

Therefore, we could take a short position to benefit from the downward trend. The security could quickly go toward the next mid-term support area located at GBp 560. A stop loss will be placed at GBp 609, above the GBp 600 pivot point.