Hanesbrands Inc Stock Forecast
Green day on Friday for Hanesbrands Inc
(Updated on Apr 26, 2024)
The Hanesbrands Inc stock price gained 0.224% on the last trading day (Friday, 26th Apr 2024), rising from $4.47 to $4.48. During the last trading day the stock fluctuated 3.14% from a day low at $4.46 to a day high of $4.60. The price has fallen in 6 of the last 10 days and is down by -7.63% for this period. Volume fell on the last day by -1 million shares and in total, 5 million shares were bought and sold for approximately $23.13 million. You should take into consideration that falling volume on higher prices causes divergence and may be an early warning about possible changes over the next couple of days.
The stock lies in the lower part of a very wide and weak rising trend in the short term, and this may normally pose a very good buying opportunity. If the lower trend floor at $4.48 is broken, it will firstly indicate a slower rate of rising, but may also be an early warning for a trend shift. Given the current short-term trend, the stock is expected to rise 6.03% during the next 3 months and, with a 90% probability hold a price between $4.75 and $6.26 at the end of this 3-month period.
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HBI Signals & Forecast
A buy signal was issued from a pivot bottom point on Thursday, April 25, 2024, and so far it has risen 0.224%. Further rise is indicated until a new top pivot has been found. Volume fell during the last trading day despite gaining prices. This causes a divergence between volume and price and it may be an early warning. The stock should be watched closely. Some negative signals were issued as well, and these may have some influence on the near short-term development. 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 $4.66 and $5.13. A break-up above any of these levels will issue buy signals. Furthermore, there is currently a sell signal from the 3 month Moving Average Convergence Divergence (MACD).
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 $0.140 between high and low, or 3.14%. For the last week, the stock has had daily average volatility of 5.45%.
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 Monday 29th
For the upcoming trading day on Monday, 29th we expect Hanesbrands Inc to open at $4.51, and during the day (based on 14 day Average True Range), to move between $4.24 and $4.72, which gives a possible trading interval of +/-$0.239 (+/-5.34%) up or down from last closing price. If Hanesbrands Inc takes out the full calculated possible swing range there will be an estimated 10.69% 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 (0.45%) than the support at $4.40 (1.79%), 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.
Current score: -2.728 Sell Candidate Unchanged
Predicted Opening Price for Hanesbrands Inc of Monday, April 29, 2024
| Fair opening price April 29, 2024 | Current price |
|---|---|
| $4.51 ( 0.744%) | $4.48 |
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 | 4.65 | 3.87 % | |
| R2 | 4.60 | 2.68 % | ||
| R1 | 4.57 | 1.94 % | ||
| Current price: | 4.48 | |||
| Support | S1 | 4.46 | -0.450 % | |
| S2 | 4.43 | -1.19 % | ||
| S3 | 4.37 | -2.38 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 5.12 | 14.29 % | |
| R2 | 4.86 | 8.48 % | ||
| R1 | 4.50 | 0.446 % | ||
| Current price | 4.48 | |||
| Support | S1 | 4.40 | -1.79% | |
| S2 | 4.34 | -3.13% | ||
| S3 | 4.28 | -4.46% |
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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