HSBC is expected to report earnings tomorrow. The bank's stock price has edged above the 100-day moving average, which is now acting as support. Resistance above at 582p.

Taking a look at HSBC’s stock as the bank is due to report its earnings tomorrow (2^nd). Currently trading at around 573p a share, we can see the price has edged above the 100-day moving average which is now acting as a support level of 570p. With a further support level at 566p, which is along the 20-day moving average. Positive earnings tomorrow could lead to a move above the 50-day moving average, which now is the next key resistance level at 582p. A break and close above it may see the price rise higher towards 620p, and then even a push towards the high created on February 21^st (653p). Looking at the technical indicators, MACD is positive and RSI is neutral as it reads 53. Although investors should be wary when investing as the recent banking turmoil has caused uncertainty, so a negative report could see a huge fall in HSBC’s stock price.