First, is the move below the uptrend line. From March 2009 until December, the uptrend line acted as a support level. The move below the line shows a change in the trend.
Second, is the development of a small head and shoulder pattern. The height of this pattern is relatively small, suggesting that the developing trend retreat would be limited. The downside projection for this pattern is near $76, which is also a previous support level, verifying support in this area.
It's an interesting co-incidence that the height of the shoulders is near to the historical resistance level of near $91. This has no particular analysis significance; it's important not to confuse coincidence with correlation.
Third, is the development of a downtrend line. This uses two points, and until it is confirmed with a third point, the line remains tentative. The current rally has the potential to reach the value of the line and then retreat. This would confirm the placement of the line.
Fourth is the flattening of GMMA investor support.
Bring these four features together, and it suggests investors already anticipated negative news surrounding HSBC ahead of its results release. Investors may not have known the exact details of the news, but many probably already suspected that an announcement was developing that would put pressure on company performance.
There are three behaviours investors will now look for to confirm an increased probability of a change in the direction of the trend. The most important one is to watch is a move above the downtrend line. This shows a bullish breakout and a potential resumption of the uptrend.