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Downtrend exhaustion - Stock Market Timing Signals and trading strategies.

Downtrend exhaustion stock alert presents a stock market trading strategy based on combination of timing signals, technical indicators, trend analysis and pattern recognition. Stock market alert is a warning signal. It indicates that long term downtrend is exhausted and probability of long term trend reversal is high. Downtrend exhaustion stock market alert presents relatively low to medium risk - high reword stock pick for undervalued stocks. The strategy is based on taking long position on anticipation of downtrend reversal. Downtrend exhaustion timing strategy and stock trading system presents alerts for S&P 500 index members, ETFs and market indices. As S&P 500 trading system it shows excellent results for index timing also.

Downtrend Exhaustion

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- 3/15/2024 -
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Hanesbrands (HBI) Technical Analysis

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Summary:
Weekly :Lane's Stochastic is overboughtBroken trend resistance line
Daily :Stochastic signal line moved below overbought areaRelative Strength Index bearish divergence
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It was a fourth consecutive positive week for the Hanesbrands (HBI). During the week, the HBI gained 0.09 points, or 1.61%, and closed at 5.68 on Friday, March 15, 2024. Weekly volume was 167% 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 (3.15) 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. 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. The distance between MACD and the signal line is relatively high and getting bigger. 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 January 18, 2024 at 3.88 and reached 5.79 on March 15, 2024. HBI gained -1.91 points, or -49.23%, in 57 days. The price is now at the 5.76% retracement level.

Daily Technical Indicators: [See HBI daily technical indicators chart]
Daily technical indicators are neutral. During the last week, daily Lane's Stochastic signal line (%D) has moved below overbought area. Such crossover is considered a bearish signal. Daily Relative Strength Index has bearish divergence. Use the following links to access the Relative Strength Index help, or use the Technical Stock Screener to see the list of stocks with daily Relative Strength Index bearish divergence. The divergence between price and indicator is considering one of the most important buy/sell stocks trading signal. Use the following link to access Relative Strength Index help.

The daily MACD line is above its signal line since March 14, 2024. This is an indication that the short-term trend is up. The distance between MACD and the signal line is low and getting smaller. It indicates that the current short-term uptrend is getting weak.

Daily Oscillators
Description Value Status Divergence Chart
Relative Strength Index (RSI) 75.62
Bearish
Williams' Percentage Range (W%R) 31.90
Lane's Stochastic (%D-Slow) 44.04
Greed/Fear Indicator (GFI) 62.59
Moving Average Converg./Diverg. (MACD) 0.24
Weekly Oscillators
Description Value Status Divergence Chart
Relative Strength Index (RSI) 74.07
Williams' Percentage Range (W%R) 23.50
Lane's Stochastic (%D-Slow) 83.26
Overbought
Greed/Fear Indicator (GFI) 73.86
Moving Average Converg./Diverg. (MACD) -0.07
Trading Signals
Description Value Chart
Upper Bollinger Band 5.99
Price 5.68
Weekly Stochastic Crossing 5.50
Daily Stochastic Crossing 5.41
20 Day Moving Average 5.17
Parabolic System 5.12
50 Day Moving Average 4.69
Lower Bollinger Band 4.41
Sector and Industry
Description Name Rank
Sector Consumer Discretionary 7
Industry Apparel, Accessories & Luxury Goods 30
Daily Trend
Description Value
Direction Up
Chart Pattern Uptrend
Low 3.88
Low Date 01/18/2024
High 5.79
High Date 03/15/2024
Weekly Trend
Monthly Trend
Description Value
Direction Up
Chart Pattern Uptrend
Status
Resistance
Support
Low 3.58
Low Date 11/30/2023
High 5.79
High Date 03/15/2024
Description Value
Direction Up
Chart Pattern Ascending Triangle
Status Broken Resistance
Resistance 4.51
Support 3.99
Low 3.54
Low Date 09/27/2023
High 5.79
High Date 03/15/2024
Quarterly Trend
Yearly Trend
Description Value
Direction Down
Chart Pattern Falling Wedge
Status Broken Resistance
Resistance 1.01
Support 3.15
High 22.82
High Date 05/10/2021
Low 3.54
Low Date 09/27/2023
Description Value
Direction Down
Chart Pattern Broadening Right-Angled, Descending Wedge
Status
Resistance
Support
High 129.46
High Date 03/02/2015
Low 3.54
Low Date 09/27/2023
Warning: TheGreedyTrader.com presents weekly analysis. Technical indicators and trend parameters are calculated for the close of business day indicated on the top right corner of the screen.