Downtrend Broken Resist.Archive
- 9/22/2023 -
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Hasbro Inc. (HAS) Technical Analysis
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|It was the negative week for the Hasbro Inc. (HAS). During the week, the HAS dropped -1.14 points, or -1.72%, and closed at 65.23 on Friday, September 22, 2023. Weekly volume was -39% below average. |
Long-term trend: [See HAS long-term trend chart]
A long-term downtrend had started on July 30, 2019 at 126.87 and reached 41.33 on March 18, 2020. HAS lost 85.54 points, or 67.42%, in 33 weeks. The chart has formed a Descending Triangle chart pattern. The trend support level is at 46.52 and resistance is at 90.95. A Descending Triangle is a variation of triangle formation that has a flat support line and falling resistance line. The lower highs indicate the decreasing demand and give the descending triangle definitive bearish bias. A Descending Triangle usually represents a distribution stage in bearish market. A Descending Triangle is considered to be a continuation pattern, especially in a down trend, but it may also mark a reversal in an uptrend. Use the following link to access a Descending Triangle chart pattern help, or use a Technical Stock Screener to see the list of stocks with Descending Triangle pattern in a long-term trend.
Medium-term trend: [See HAS medium-term trend chart]
A medium-term downtrend had started on January 5, 2022 at 105.73 and reached 45.75 on March 15, 2023. HAS lost 59.98 points, or 56.73%, in 62 weeks. The chart has formed a Falling Channel chart pattern. The downtrend resistance line (25.94) 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 HAS weekly technical indicators chart]
Weekly technical indicators are neutral.
The weekly MACD line is above its signal line since April 6, 2023. Use the following link to access a MACD help.
Short-term trend: [See HAS short-term trend chart]
A short-term downtrend had started on September 6, 2023 at 73.58 and reached 65.16 on September 22, 2023. HAS lost 8.42 points, or 11.44%, in 16 days. Price is near the trend low.
Daily Technical Indicators: [See HAS daily technical indicators chart]
Daily Relative Strength Index and Williams' Percentage Range are oversold while Lane's Stochastic is strongly oversold. Use the Technical Stock Screener to see the list of stocks with oversold daily Relative Strength Index and Williams' Percentage Range or strongly oversold daily Lane's Stochastic. 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, Relative Strength Index and Williams' Percentage Range help.
The daily MACD line is below its signal line since September 8, 2023. This is an indication that the short-term trend is down. The distance between MACD and the signal line is relatively high and getting bigger. It indicates that the current short-term downtrend is strong.
During the last week, the price has crossed below the 50 Day Moving Average. Such crossover is considered a bearish signal. The moving average crossover signals work better when the stock develops a strong trend, but they are ineffective when the stock is in a trading range. Moving average crossover systems can be effective, but should be used in conjunction with trend patterns, momentum indicators, candlesticks and other aspects of technical analysis. Use the following links to access Moving Average Crossover trading technique, or use the Technical Stock Screener to see the list of stocks with the Moving Average close to the price level.