Stock Chart Analysis HBI

Posted by downtowntrader | 8/19/2007 10:22:00 PM | 0 comments »

Stock Chart Analysis HBI

Hanesbrands Inc. (Public, NYSE:HBI)

HBI experienced a huge increase in volatility after their recent earnings report while trading to all time highs. The stock is only about a year old, so it may just be appearing on some institutions radar screens. It is pulling back in a sharp channel but seems like it plans on holding above the 200 sma. The ideal situation here would be for a decrease in volatility offering some nice candles to trade off, followed by a break out of the channel. While I'm not ready to jump in on this one, I plan on watching it for the next few sessions.

Good Trading,


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