The bearish DailyPlay we chose for Wednesday October 14th is Hanesbrand Inc (HBI). HBI is part of the Consumer Discretionary Sector (XLY). Over the last month, XLY has experienced a 3.79% move higher and its 1m and 6m trends have turned bullish, however it has bounced off its $78 resistance level today.
Hanesbrand Inc’s 1m and 6m trends have turned bearish today and has recently bounced off it’s $30 resistance level with negative momentum. With a technical score of 4 (out of 10), HBI looks positioned to continue this strong bearish trend lower towards $25 support level.