HBI is at the start of a significant breakout
Based on the preceding analysis in HBI, traders should determine that their account can handle increased risk from a new position. Also be sure that HBI is not too correlated with your existing position. Lastly, excellent traders always check how a new addition relates to not just their overall account, but the prevailing market action as well. For example, check the S&P 500. Is it trending up or down recently? Has it recently exceeded key resistance or support levels? Be sure to align your trading actions on HBI with the overall market so you are not swimming against the tide.
Currently the calculated sentiment levels, evaluated by Traders For Wealth, have shown an increasingly positive bias toward HBI. Also, the price action in HBI has been moving on up. This is a strong sign for a potential upside breakout. Traders should view this as a bullish trade and make sure it aligns with the overall market mood, and their current positions.
Hanesbrands Inc (HBI)
Hanesbrands Inc. is a manufacturer and marketer of apparel. The Company operates through four segments: Innerwear, Activewear, Direct to Consumer and International. Its portfolio of brands includes Hanes, Champion, Maidenform, DIM, Playtex, Bali, JMS/Just My Size, Nur Die/Nur Der, L’eggs, Lovable, Wonderbra, Flexees, Lilyette and Gear for Sports. The Innerwear segment focuses on core apparel products, such as intimate apparel, men’s underwear, panties, children’s underwear, socks and hosiery. Under Activewear segment, it offers products, such as T-shirts, fleece, sport shirts, performance T-shirts and shorts, sports bras and thermals, to retailers and wholesalers. Its Direct to Consumer operations include its Company-operated outlet stores and Website operations that sell its branded products directly to consumers in the United States. Its International segment includes products from the Innerwear and Activewear segments marketed under various brands.