Hanesbrands Inc Stock Forecast
Is Hanesbrands Inc stock still a buy after falling -8.02% on Thursday?
(Updated on Apr 25, 2024)
The Hanesbrands Inc stock price fell by -8.02% on the last day (Thursday, 25th Apr 2024) from $4.86 to $4.47. During the last trading day the stock fluctuated 8.20% from a day low at $4.45 to a day high of $4.82. The price has fallen in 7 of the last 10 days and is down by -11.66% for this period. Volume has increased on the last day by 539 thousand shares but on falling prices. This may be an early warning and the risk will be increased slightly over the next couple of days. In total, 6 million shares were bought and sold for approximately $28.53 million.
Given the current short-term trend, the stock is expected to rise 7.69% during the next 3 months and, with a 90% probability hold a price between $4.81 and $6.39 at the end of this 3-month period.
Ready to grow your portfolio? Here's your beginner's guide to opening a free brokerage account.
HBI Signals & Forecast
There are few to no technical positive signals at the moment. The Hanesbrands Inc stock holds sell signals from both short and long-term Moving Averages giving a more negative forecast for the stock. Also, there is a general sell signal from the relation between the two signals where the long-term average is above the short-term average. On corrections up, there will be some resistance from the lines at $4.70 and $5.16. A break-up above any of these levels will issue buy signals. A sell signal was issued from a pivot top point on Thursday, March 28, 2024, and so far it has fallen -22.93%. Further fall is indicated until a new bottom pivot has been found. Furthermore, there is currently a sell signal from the 3 month Moving Average Convergence Divergence (MACD). Volume rose on falling prices yesterday. This may be an early warning and the stock should be followed more closely.
Support, Risk & Stop-loss for Hanesbrands Inc stock
Hanesbrands Inc finds support from accumulated volume at $4.40 and this level may hold a buying opportunity as an upwards reaction can be expected when the support is being tested.
This stock may move much during the day (volatility) and with a large prediction interval from the Bollinger Band this stock is considered to be "high risk". During the last day, the stock moved $0.365 between high and low, or 8.20%. For the last week, the stock has had daily average volatility of 5.47%.
Our recommended stop-loss: We hold a negative evaluation for this stock. No stop-loss is set.
Trading Expectations (HBI) For The Upcoming Trading Day Of Friday 26th
For the upcoming trading day on Friday, 26th we expect Hanesbrands Inc to open at $4.58, and during the day (based on 14 day Average True Range), to move between $4.22 and $4.72, which gives a possible trading interval of +/-$0.247 (+/-5.52%) up or down from last closing price. If Hanesbrands Inc takes out the full calculated possible swing range there will be an estimated 11.04% move between the lowest and the highest trading price during the day.
Since the stock is closer to the resistance from accumulated volume at $4.50 (0.67%) than the support at $4.40 (1.57%), our systems don't find the trading risk/reward intra-day attractive and any bets should be held until the stock is closer to the support level.
Earnings coming up
Hanesbrands Inc will release earnings BMO on Wednesday, May 01, 2024.The consensus among the analysts for the expected earnings (EPS) is -$0.0600. We will update the financials statements for Hanesbrands Inc, that can be found here as soon as the records are public. Our systems has calculated a possible swing of +/- 10.81% in the first trading day after earnings release.
Is Hanesbrands Inc stock A Buy?
The Hanesbrands Inc stock holds several negative signals and despite the positive trend, we believe Hanesbrands Inc will perform weakly in the next couple of days or weeks. Therefore, we hold a negative evaluation of this stock. Due to some small weaknesses in the technical picture we have downgraded our analysis conclusion for this stock since the last evaluation from a Hold/Accumulate to a Sell candidate.
Current score: -1.505 Sell Candidate Downgraded
Predicted Opening Price for Hanesbrands Inc of Friday, April 26, 2024
| Fair opening price April 26, 2024 | Current price |
|---|---|
| $4.58 ( 2.42%) | $4.47 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for HBI
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 4.94 | 10.59 % | |
| R2 | 4.80 | 7.47 % | ||
| R1 | 4.72 | 5.54 % | ||
| Current price: | 4.47 | |||
| Support | S1 | 4.44 | -0.696 % | |
| S2 | 4.35 | -2.62 % | ||
| S3 | 4.21 | -5.74 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 5.12 | 14.54 % | |
| R2 | 4.86 | 8.72 % | ||
| R1 | 4.50 | 0.671 % | ||
| Current price | 4.47 | |||
| Support | S1 | 4.40 | -1.57% | |
| S2 | 4.34 | -2.91% | ||
| S3 | 4.28 | -4.25% |
HBI Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | Nov 09, 2022 | Nov 21, 2022 | Dec 13, 2022 | $0.150 | 2.35% |
| 2 | Aug 11, 2022 | Aug 23, 2022 | Sep 14, 2022 | $0.150 | 1.73% |
| 3 | Apr 26, 2022 | May 09, 2022 | May 31, 2022 | $0.150 | 1.26% |
| 4 | Feb 03, 2022 | Feb 14, 2022 | Mar 08, 2022 | $0.150 | 0.96% |
| 5 | Oct 26, 2021 | Nov 08, 2021 | Nov 30, 2021 | $0.150 | 0.93% |
FAQ
Click here for our free guide on how to buy Hanesbrands Inc Stock.
