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Downtrend ExhaustionArchive
- 4/26/2024 -
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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 dropped -0.17 points, or -3.66%, and closed at 4.48 on Friday, April 26, 2024. Weekly volume was -7% 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. The downtrend resistance line (3.05) is broken. A broken support is considered to be a long-term bullish signal. Use the following links to access Trend Support/Resistance Help, or use the Technical Stock Screener to see the list of stocks with broken trend resistance line in a medium-term trend.
 Weekly Technical Indicators: [See HBI weekly technical indicators chart]
Weekly technical indicators are neutral.
The weekly MACD line is above its signal line since December 8, 2023. The distance between MACD and the signal line is low and getting smaller. Use the following link to access a MACD help.
 Short-term trend: [See HBI short-term trend chart]
A short-term downtrend had started on April 23, 2024 at 4.91 and reached 4.45 on April 25, 2024. HBI lost 0.46 points, or 9.37%, in 2 days. The price is now at the 6.52% retracement level.
 Daily Technical Indicators: [See HBI daily technical indicators chart]
Daily Williams' Percentage Range is strongly oversold. Use the Technical Stock Screener to see the list of stocks with daily strongly oversold Williams' Percentage Range. During the last week, daily Lane's Stochastic signal line (%D) has moved above oversold area. Such crossover is considered a bullish signal. Daily Lane's Stochastic and MACD have bullish divergence. Use the following links to access the Lane's Stochastic and MACD help, or use the Technical Stock Screener to see the list of stocks with daily Lane's Stochastic and MACD bullish divergence. The divergence between price and indicator is considering one of the most important buy/sell stocks trading signal. Oscillators are designed to signal a possible trend reversal. They can act as alerts and should be taken in conjunction with other technical analysis tools. Oscillators can be used to confirm other technical signals. Use the following links to access Lane's Stochastic and Williams' Percentage Range help.
The daily MACD line is below its signal line since April 1, 2024. This is an indication that the short-term trend is down.
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