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Bearish Moving Average Cross by Hanesbrands Inc (HBI)

By Shiri Gupta

Hanesbrands Inc (NYSE:HBI) shares have crossed bearishly below their 10-day moving average of $16.73 on a volume of 204K shares. This may provide swing traders with an opportunity for a short position, as such a crossover often suggests lower prices in the near term.

In the past 52 weeks, Hanesbrands Inc share prices have been bracketed by a low of $11.57 and a high of $22.57 and are now at $16.62, 44% above that low price. In the last five trading sessions, the 50-day moving average (MA) has fallen 0.5% while the 200-day MA has slid 0.2%.

SmarTrend is tracking the current trend status for Hanesbrands Inc and will alert subscribers who have HBI in their portfolio or watchlist when shares have changed trend direction.

Keywords: moving crosses hanesbrands inc

Ticker(s): HBI