HAS unable to break through key resistance level


Hasbro Inc. (HAS) Technical Analysis Report for Jul 13, 2018 [1 min read]
Highlights
HAS unable to break through key resistance level
HAS runs into sellers again around 97.53
HAS breaks below previous session low
HAS falls to lowest close since July 6th
TQ Sentiment
Report Sentiment: 42% Bearish
Technical Forecast:
Overview

HAS finished the week 0.49% higher at 96.52 after losing $0.88 (-0.9%) today on low volume. Today's closing price of 96.52 marks the lowest close since July 6th. Closing below Thursday's low at 96.95, Hasbro Inc. confirms its breakout through the previous session's low having traded $0.94 below it intraday.

Daily chart for HAS
Volatility

Friday's trading range was $1.52 (1.56%), that's slightly above last trading month's daily average range of $1.29. Things look different on a weekly scale, where volatility is below the markets average with the monthly volatility being above average.

Support/Resistance

Prices are trading close to a key support level at 95.96. Unable to break through the key technical resistance level at 97.38, the stock closed below it after spiking as high as 97.53 during the day. The failure to close above the resistance might increase that levels importance as resistance going forward. After having been unable to move above 97.54 in the prior session, the market ran into sellers again around the same price level today, failing to move higher than 97.53.

Trend

While still in a long-term downtrend, the short and medium-term trends both turned bullish already.

Order Flow

Buying could accelerate should prices move above the close-by swing high at 97.54 where further buy stops might get activated. Selling could speed up should prices move below the nearby swing low at 95.96 where further sell stops might get triggered.

Conclusion

While classical technical analysis indicates a neutral sentiment for the next trading day, our quantitative statistics show a different picture being bullish.

Market Conditions for Hasbro Inc.
ConditionForecastDirectionWinAvgWorstBestEvents
Close near high of period TQ Pro Members Only
High close to previous High TQ Pro Members Only
2 Consecutive Higher Closes TQ Pro Members Only
Bearish Bounce off SMA 20 TQ Pro Members Only
Bullish Intraday Reversal TQ Pro Members Only
More market conditions identified for TQ Pro members...
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Latest Report:

HAS closes within prior day's range

Jul 20, 2018
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