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Advanced TA SearchArchive
- 5/10/2024 -
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Hanesbrands (HBI) Technical Analysis
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| Summary:
| | Weekly : | | Daily :
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| | It was a first positive week after 5 consecutive negative weeks for the Hanesbrands (HBI). During the week, the HBI gained 0.52 points, or 11.71%, and closed at 4.96 on Friday, May 10, 2024. It was the best weekly gain since March 28, 2024. Weekly volume was -21% below average.
HBI is a member of Consumer Discretionary Sector. Consumer Discretionary is the second most oversold sector. HBI is a member of Apparel, Accessories & Luxury Goods Industry. Apparel, Accessories & Luxury Goods is the eighth most oversold industry. Sector/industry rotation is considered a proven strategy to beat the market. Use the following links to find overbought/oversold technical indicators by Sector or by Industry.
 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.
The weekly MACD line is below its signal line since April 26, 2024. This is an indication that the medium-term trend is down. The distance between MACD and the signal line is low, but getting bigger. It indicates that the current medium-term downtrend is getting stronger. 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 5.01 on May 10, 2024. HBI gained -0.61 points, or -13.86%, in 11 days. The price is now at the 8.20% retracement level.
Daily Technical Indicators: [See HBI daily technical indicators chart]
Daily technical indicators are neutral.
During the last week, daily MACD line has moved above its signal line. Such crossover is considered a bullish signal.
During the last week, the price has moved above the moving average in the center of the Bollinger Bands. The distance between the Bollinger Bands (12.1%) is close to one year low (11.03%). It indicates the period of low volatility of the stock price, and it is considered a buy signal for the option traders. The Bollinger Bands are often used with a non-oscillator indicator like chart patterns or a trendline. The signals are considered more reliable if these indicators confirm the recommendation of the Bollinger Bands. Use the following links to access the Bollinger Bands Help, or use the Technical Stock Screener to see the list of stocks with the price above the Upper Bollinger Band or below the Lower Bollinger Band.
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