Core Viewpoint - HSBC's stock price has shown a strong upward trend, successfully breaking through key moving averages, indicating a robust bullish channel despite some technical divergence signals suggesting potential short-term adjustments [1]. Technical Analysis - As of July 18, HSBC's stock price reached 98.1 HKD, up 0.46%, with significant support at MA60 (92.35 HKD) and immediate support at 95 HKD. A drop below 95 HKD could lead to a further decline to 91.7 HKD. The psychological resistance level is at 99 HKD, with a potential challenge at 104.7 HKD if broken [1]. - The RSI indicator is at 72, indicating an overbought condition, while the 5-day volatility is at 2.7%, suggesting stable investor sentiment [1]. - Current upward probability is estimated at 53%, supported by a moderate increase in trading volume, indicating orderly capital inflow into the stock [1]. Derivative Instruments Performance - On July 16, HSBC-related derivatives demonstrated strong leverage effects, with Morgan Stanley's bull certificate (56622) and UBS's bull certificate (56446) both recording a 9% increase over two days, reflecting effective participation tools in the banking stock market [3]. - UBS call option (13631) and Bank of China call option (15974) also performed well, achieving gains of 7% and 6% respectively [3]. Recommended Derivative Instruments - For investors optimistic about HSBC's future, the call option (15475) is highlighted for its high leverage of 12.4 times and a strike price of 115.88 HKD, offering cost-effectiveness [6]. - For risk-averse investors, Bank of China put option (16855) provides a leverage of 7.1 times with a strike price of 81.5 HKD, while UBS put option (16699) offers 6.1 times leverage [6]. - Bearish instruments include UBS bear certificate (60586) with 11.7 times leverage and Morgan Stanley bear certificate (60926) with 10.6 times leverage, with respective recovery prices set at 105 HKD and 106 HKD [6].