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| Candlesticks Name: | Bearish Three Black Crows |
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- 5/3/2024 -
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Hanesbrands (HBI) Technical Analysis
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| Summary:
| | Weekly : | | Daily :
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| | It was the negative week for the Hanesbrands (HBI). During the week, the HBI gave back -0.04 points, or -0.89%, and closed at 4.44 on Friday, May 3, 2024. Weekly volume was -27% below average.
 Long-term trend: [See HBI long-term trend chart]
A long-term downtrend had started on March 2, 2015 at 129.46 and reached 3.54 on September 27, 2023. HBI lost 125.92 points, or 97.27%, in 447 weeks. The chart has formed a Broadening Right-Angled, Descending Wedge chart pattern. A Broadening Descending Wedge pattern is considered to be a reversal formation. It usually appears in a mature trend, characterized by overbought/oversold long-term and short-term indicators, and often generates divergence on long-term indicators. Use the following link to access a Broadening Right-Angled, Descending Wedge chart pattern help, or use a Technical Stock Screener to see the list of stocks with Broadening Right-Angled, Descending Wedge pattern in a long-term trend.
 Medium-term trend: [See HBI medium-term trend chart]
A medium-term downtrend had started on May 10, 2021 at 22.82 and reached 3.54 on September 27, 2023. HBI lost 19.28 points, or 84.49%, in 124 weeks. The chart has formed a Falling Wedge chart pattern. A Falling Wedge is a triangle formation with a noticeable slant to the downside. It represents the loss of a downside momentum on each successive low and has a bullish bias. The Falling wedge usually marks a reversal in a downtrend. In an uptrend a falling wedge is considered to be a continuation pattern. Use the following link to access a Falling Wedge chart pattern help, or use a Technical Stock Screener to see the list of stocks with Falling Wedge pattern in a medium-term trend.
 Weekly Technical Indicators: [See HBI weekly technical indicators chart]
Weekly technical indicators are neutral.
During the last week, weekly MACD line has moved below its signal line. Such crossover is considered a bearish signal. Use the following link to access a MACD help.
 Short-term trend: [See HBI short-term trend chart]
A short-term uptrend had started on April 29, 2024 at 4.40 and reached 4.82 on May 3, 2024. HBI gained -0.42 points, or -9.55%, in 4 days. The price is now at the 90.48% retracement level.
Daily Technical Indicators: [See HBI daily technical indicators chart]
Daily technical indicators are neutral.
The daily MACD line is below its signal line since April 1, 2024. The distance between MACD and the signal line is low and getting smaller.
During the last week, the price has risen above the Parabolic SAR (stop and reversal). A Parabolic SAR below the price is a bullish signal, and it indicates that momentum is likely to remain in the upward direction. A Parabolic SAR is used as a trailing stop loss for long or short positions. It works best during strong trending periods. Use the following links to access Parabolic SAR Help, or use the Technical Stock Screener to see the list of stocks with the Parabolic SAR close to the price level.
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| Daily Oscillators |
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| Weekly Oscillators |
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| Trading
Signals |
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| Sector and
Industry |
| Description |
Name |
Rank |
| Sector |
Consumer Discretionary |
3 |
| Industry |
Apparel, Accessories & Luxury Goods |
11 |
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| Daily Trend |
| Description |
Value |
| Direction |
Up |
| Chart Pattern |
Uptrend |
| Low |
4.40 |
| Low Date |
04/29/2024 |
| High |
4.82 |
| High Date |
05/03/2024 |
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| Weekly Trend |
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| Description |
Value |
| Direction |
Down |
| Chart Pattern |
DownTrend |
| Status |
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| Resistance |
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| Support |
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| High |
5.86 |
| High Date |
03/28/2024 |
| Low |
4.40 |
| Low Date |
04/29/2024 |
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| Description |
Value |
| Direction |
Up |
| Chart Pattern |
Broadening Right-Angled, Ascending Wedge |
| Status |
Valid |
| Resistance |
6.18 |
| Support |
3.67 |
| Low |
3.54 |
| Low Date |
09/27/2023 |
| High |
5.86 |
| High Date |
03/28/2024 |
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| Quarterly Trend |
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| Description |
Value |
| Direction |
Down |
| Chart Pattern |
Falling Wedge |
| Status |
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| Resistance |
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| Support |
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| High |
22.82 |
| High Date |
05/10/2021 |
| Low |
3.54 |
| Low Date |
09/27/2023 |
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| Description |
Value |
| Direction |
Down |
| Chart Pattern |
Broadening Right-Angled, Descending Wedge |
| Status |
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| Resistance |
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| Support |
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| High |
129.46 |
| High Date |
03/02/2015 |
| Low |
3.54 |
| Low Date |
09/27/2023 |
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