HSBC - break out of long term trend lines
HSBC broke through 2 long term trend lines today which might suggest some bullishness going forward. Also worth noting is history has shown that as goes HSBC the FTSE 100 usually follows. I have left any EW wave count off the chart as I am still undecided if this is all part of a long term correction dating from the top in 2001 or part of an impulsive climb that began in 2009. Whichever way I look at it, I reckon there is still some upside in this stock.
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Definition of a false breakout?