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Archive
- 11/8/2024 -
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Hanesbrands (HBI) Technical Analysis
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| Summary:
| | Weekly :  | | Daily :
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| | It was a second consecutive positive week for the Hanesbrands (HBI). During the week, the HBI gained 0.91 points, or 12.83%, and closed at 8.00 on Friday, November 8, 2024. Weekly volume was 27% above average.
 Long-term trend: [See HBI long-term trend chart]
A long-term uptrend had started on September 27, 2023 at 3.54 and reached 8.70 on November 7, 2024. HBI gained -5.16 points, or -145.76%, in 58 weeks. The chart has formed a Broadening Ascending Wedge chart pattern. The price is near the trend resistance line (7.85). The resistance is usually stronger when technical indicators are overbought. Use the following links to access Trend Support/Resistance Help, or use the Technical Stock Screener to see the list of stocks with price testing the trend resistance line in a long-term trend.
 Medium-term trend: [See HBI medium-term trend chart]
A medium-term uptrend had started on April 29, 2024 at 4.40 and reached 8.70 on November 7, 2024. HBI gained -4.30 points, or -97.73%, in 27 weeks. The price is now at the 16.28% retracement level.
 Weekly Technical Indicators: [See HBI weekly technical indicators chart]
Weekly Relative Strength Index and Lane's Stochastic are overbought while Williams' Percentage Range is strongly overbought. Use the Technical Stock Screener to see the list of stocks with overbought weekly Relative Strength Index and Lane's Stochastic or strongly overbought weekly Williams' Percentage Range. Weekly Lane's Stochastic and MACD have bearish 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 weekly Lane's Stochastic and MACD bearish 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 weekly MACD line is above its signal line since July 12, 2024. This is an indication that the medium-term trend is up. 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 October 24, 2024 at 6.81 and reached 8.70 on November 7, 2024. HBI gained -1.89 points, or -27.75%, in 14 days. Price is near the Fibonacci 38.2% retracement level. The Fibonacci retracement level is considered a support/resistance level.
 Daily Technical Indicators: [See HBI daily technical indicators chart]
Daily Williams' Percentage Range is overbought. Use the Technical Stock Screener to see the list of stocks with overbought daily Williams' Percentage Range.
During the last week, daily MACD line has moved above its signal line. Such crossover is considered a bullish signal.
The price touches the upper Bollinger Band. 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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| Daily Oscillators |
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| Weekly Oscillators |
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| Trading
Signals |
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| Sector and
Industry |
| Description |
Name |
Rank |
| Sector |
Consumer Discretionary |
5 |
| Industry |
Apparel, Accessories & Luxury Goods |
64 |
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| Daily Trend |
| Description |
Value |
| Direction |
Up |
| Chart Pattern |
Uptrend |
| Low |
6.93 |
| Low Date |
10/31/2024 |
| High |
8.70 |
| High Date |
11/07/2024 |
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| Weekly Trend |
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| Description |
Value |
| Direction |
Up |
| Chart Pattern |
Uptrend |
| Status |
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| Resistance |
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| Support |
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| Low |
6.81 |
| Low Date |
10/24/2024 |
| High |
8.70 |
| High Date |
11/07/2024 |
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| Description |
Value |
| Direction |
Up |
| Chart Pattern |
Uptrend |
| Status |
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| Resistance |
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| Support |
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| Low |
4.40 |
| Low Date |
04/29/2024 |
| High |
8.70 |
| High Date |
11/07/2024 |
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| Quarterly Trend |
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| Description |
Value |
| Direction |
Up |
| Chart Pattern |
Broadening Ascending Wedge |
| Status |
Test Resistance |
| Resistance |
7.85 |
| Support |
5.20 |
| Low |
3.54 |
| Low Date |
09/27/2023 |
| High |
8.70 |
| High Date |
11/07/2024 |
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| Description |
Value |
| Direction |
Down |
| Chart Pattern |
DownTrend |
| Status |
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| Resistance |
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| Support |
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| High |
129.46 |
| High Date |
03/02/2015 |
| Low |
3.54 |
| Low Date |
09/27/2023 |
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