NEW BULLISH Plays
Hanesbrands Inc. - HBI - close: 42.03 change: +0.17
Stop Loss: 39.95
Current Gain/Loss: unopened
Entry on March -- at $--.--
Listed on March 21, 2013
Time Frame: 6 to 8 weeks
Average Daily Volume = 1.0 million
New Positions: Yes, see below
Why We Like It:
There's no slowdown in shares of HBI. This apparel maker is showing relative strength. The stock just hit a new all-time high today. This is essentially a bullish momentum trade. Today's high was $42.19. I am suggesting a trigger to launch small bullish positions at $42.25. If triggered our target is $45.00. More patient investors may want to consider waiting for a dip back toward the 30 or 40-dma and look for a bounce there as an alternative entry point but it could be awhile before any such dip occurs.
Our stop is a little bit wide at $39.95. More conservative traders may want to consider a stop near $40.45 instead.
Trigger @ 42.25 *Small Positions*
Suggested Position: buy HBI stock @ (trigger)