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- 4/5/2024 -
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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 -0.67 points, or -11.55%, and closed at 5.13 on Friday, April 5, 2024. Weekly volume was 26% above 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 (3.10) 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 Lane's Stochastic is overbought. Use the Technical Stock Screener to see the list of stocks with overbought weekly Lane's Stochastic. During the last week, weekly Lane's Stochastic main line (%K) has declined below the overbought signal line (%D). Such crossover is considered a bearish 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 link to access Lane's Stochastic help.
The weekly MACD line is above its signal line since December 8, 2023. 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 November 30, 2023 at 3.58 and reached 5.86 on March 28, 2024. HBI gained -2.28 points, or -63.69%, in 119 days. The chart has formed a Broadening Ascending Wedge chart pattern. The trend support level is at 4.39 and resistance is at 5.97. Use the following link to access a Broadening Ascending Wedge chart pattern help, or use a Technical Stock Screener to see the list of stocks with Broadening Ascending Wedge pattern in a short-term trend.
 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. Use the following link to access Williams' Percentage Range help.
The daily MACD line is below its signal line since April 1, 2024. The distance between MACD and the signal line is relatively high and getting bigger.
During the last week, the price has fallen below the Parabolic SAR (stop and reversal). A Parabolic SAR above the price is a bearish signal, and it indicates that momentum is likely to remain in the downward 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.
During the last week, the price has declined below the moving average in the center of the Bollinger Bands. 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.
 Candlestick pattern: [See HBI candlestick chart pattern]
On Friday the chart has formed a Bullish Piercing Line Candlestick pattern. This pattern suggests bulls have begun to take charge of the market, and shorts have been shaken by the sudden lost of bearish momentum. The reliability of the Bullish Piercing Line pattern is moderate. Use the Technical Stock Screener to see the list of stocks that had a Bullish Piercing Line Candlestick pattern during the last week.
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