Hanesbrands Inc Stock Forecast
Stronger technical forecast for Hanesbrands Inc stock price after Tuesday trading.
(Updated on Jul 02, 2024)
The Hanesbrands Inc stock price fell by -1.03% on the last day (Tuesday, 2nd Jul 2024) from $4.85 to $4.80. During the last trading day the stock fluctuated 3.17% from a day low at $4.73 to a day high of $4.88. The price has fallen in 6 of the last 10 days and is down by -4.57% for this period. Volume fell on the last day along with the stock, which is actually a good sign as volume should follow the stock. On the last day, the trading volume fell by -1 million shares and in total, 4 million shares were bought and sold for approximately $18.45 million.
The stock lies in the middle of a wide and weak rising trend in the short term and a further rise within the trend is signaled. Given the current short-term trend, the stock is expected to rise 3.99% during the next 3 months and, with a 90% probability hold a price between $4.76 and $5.57 at the end of this 3-month period.
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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 $4.91 and $4.99. A break-up above any of these levels will issue buy signals. A sell signal was issued from a pivot top point on Monday, June 24, 2024, and so far it has fallen -7.16%. 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 fell together with the price during the last trading day and this reduces the overall risk as volume should follow the price movements.
Support, Risk & Stop-loss for Hanesbrands Inc stock
Hanesbrands Inc finds support from accumulated volume at $4.68 and this level may hold a buying opportunity as an upwards reaction can be expected when the support is being tested.
This stock has average movements during the day and with good trading volume, the risk is considered to be medium. During the last day, the stock moved $0.150 between high and low, or 3.17%. For the last week, the stock has had daily average volatility of 4.02%.
Our recommended stop-loss: $4.58 (-4.49%) (This stock has medium daily movements and this gives medium risk. There is a sell signal from a pivot top found 18 days ago.)
Trading Expectations (HBI) For The Upcoming Trading Day Of Wednesday 3rd
For the upcoming trading day on Wednesday, 3rd we expect Hanesbrands Inc to open at $4.80, and during the day (based on 14 day Average True Range), to move between $4.58 and $5.02, which gives a possible trading interval of +/-$0.217 (+/-4.53%) up or down from last closing price. If Hanesbrands Inc takes out the full calculated possible swing range there will be an estimated 9.05% move between the lowest and the highest trading price during the day.
Since the stock is closer to the support from accumulated volume at $4.68 (2.50%) than the resistance at $4.94 (2.92%), our systems sees the trading risk/reward intra-day as attractive and believe profit can be made before the stock reaches first resistance..
Is Hanesbrands Inc stock A Buy?
Hanesbrands Inc holds several negative signals and this should be a sell candidate, but due to the general chance for a turnaround situation it should be considered as a hold candidate (hold or accumulate) in this position whilst awaiting further development. We have upgraded our analysis conclusion for this stock since the last evaluation from a Sell to a Hold/Accumulate candidate.
Current score: 0.016 Hold/Accumulate Upgraded
Predicted Opening Price for Hanesbrands Inc of Wednesday, July 3, 2024
| Fair opening price July 3, 2024 | Current price |
|---|---|
| $4.80 ( 0.0694%) | $4.80 |
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 | |
|---|---|---|
| R3 | 4.95 | 3.19% |
| R2 | 4.90 | 2.00% |
| R1 | 4.86 | 1.26% |
| Price | 4.80 | |
| S1 | 4.75 | -1.12% |
| S2 | 4.71 | -1.86% |
| S3 | 4.65 | -3.06% |
Accumulated Volume Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 5.12 | 6.67% |
| R2 | 4.96 | 3.33% |
| R1 | 4.94 | 2.92% |
| Price | 4.80 | |
| S1 | 4.68 | -2.50% |
| S2 | 4.55 | -5.21% |
| S3 | 4.48 | -6.67% |
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
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