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Bullish Moving Average Cross by Hanesbrands Inc (HBI)

By Amy Schwartz

Hanesbrands Inc (NYSE:HBI) shares have crossed bullishly above their 10-day moving average of $9.29 on a volume of 560K shares. Swing traders may find an opportunity for a long position, as such a crossover often suggests higher prices in the near term.

Over the past year, Hanesbrands Inc has traded in a range of $7.89 to $19.10 and is now at $9.40, 19% above that low. In the last five trading sessions, the 50-day moving average (MA) has fallen 2.4% while the 200-day MA has slid 0.7%.

SmarTrend recommended that its subscribers protect gains by selling shares of Hanesbrands Inc on January 10th, 2020 by issuing a Downtrend alert when the shares were trading at $13.85. Since that call, shares of Hanesbrands Inc have fallen 35.1%. We are now looking for when a new Uptrend will commence and will alert SmarTrend subscribers in real time.

Keywords: moving crosses hanesbrands inc

Ticker(s): HBI