If you blinked you might have missed HSBC Holdings PLC’s (LON:HSBA) probe down below 400p in the immediate aftermath of the Brexit vote.
The global banking group has been among a number of London’s multinationals that have rallied ever since June’s historic vote.
Part of the FTSE’s so-called ‘dollar earners club’ the banking share, a heavyweight in the index, has been a key driver in the rally that recently saw the top 100 shares mark a new all-time high.
Its ascent is particularly notable next to the bank’s domestic rivals.
Indeed, technical analyst Zak Mir has highlighted that the share price chart is much better than Royal Bank of Scotland PLC (LON:RBS), Barclays PLC (LON:BARC) or Lloyds Banking Group PLC (LON:LLOY).
WATCH Zak Mir's analysis of HSBC right now
“This is a heavyweight in the FTSE, a £120bn market cap, and there’s every reason to believe this is going to keep on trucking towards 650p,” Mir said in a Tip TV segment for Proactive Investors.
He added: “it is a beautiful, smooth projection.”
“You wouldn’t really have bet on HSBC as being such a great performer, but it has been.”