OptionsPlay DailyPlay

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.

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