HBI slumps, loses $0.90 (-4.27%) within a single day


Hanesbrands Inc (HBI) Technical Analysis Report for Jun 14, 2018 [1 min read]
Highlights
HBI crashes, loses $0.90 (-4.27%) within a single day
HBI dominated by bears dragging the market lower throughout the day
HBI breaks below 200-day moving average
HBI ends the day on a bearish note closing near the low of the day
HBI runs into sellers again around 21.13
TQ Sentiment
Report Sentiment: 100% Bearish
Technical Forecast:
Overview

HBI ended Thursday at 20.17 tanking $0.90 (-4.27%). This is the biggest single day loss in over four months. The bears were in full control today, moving the market lower throughout the whole session. Closing below Wednesday's low at 20.87, the share confirms its breakout through the previous session's low having traded $0.80 below it intraday. Ending with a weak close near the low of the day sets a bearish note for the next session.

Daily chart for HBI
Volatility

Thursday's trading range was $1.06 (5.02%), that's far above last trading month's daily average range of $0.46. Weekly volatility is also higher, being slightly above the markets average with the monthly volatility being above average.

Price Action

Regardless of a strong opening the stock closed below the prior day's open and close, forming a bearish Engulfing Candle.

Support/Resistance

After having been unable to move above 21.18 in the previous session, Hanesbrands Inc ran into sellers again around the same price level today, failing to move higher than 21.13.

Trend

While still in a long-term downtrend, the short and medium-term trends both turned bullish already. The market broke below the 200-day moving average at 20.72 today for the first time since January 30th.

Conclusion

Even though both sentiments are bearish for the next trading day, our quantitative statistics are only bearish while the classical technical analysis metrics show a very bearish sentiment.

Market Conditions for Hanesbrands Inc
Condition Forecast Direction Win Avg Worst Best Events
Close to S1 Support TQ Pro Members Only
Low close to previous low TQ Pro Members Only
Black Candle TQ Pro Members Only
Close near low of period TQ Pro Members Only
Homing Pigeon TQ Pro Members Only
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