Hibbett has had a great 500%+ run over the last 12 months and announced that they are expecting their revenues and customer retention to continue to build in the post-Corona lockdown environment.
Great run so far. Worth a watch.
We've been waiting for a good entry to a HIBB short and this looks like it.
On the initial entry is an R of 1.33 but we can move our TP lower as price moves our way.
The bearish daily candle closed right on the 9SMA (just the script has it as 20)
*Remember to Keep short position sizes smaller than the plethora of long ideas available
Great move from Covid bottom, then a big pull back.
Now it seems to be trying to resume uptrend following earnings gap up. Sellers came in on positive earning reaction.
If it follows through upside when buyers come in next week it could resume uptrend. Volume clues are encouraging. Lets see if price action obliges.
Our Trade of the Week, issued on Tuesday, is doing well into a red tape overall. Nice momentum here, but with the overall market looking sloppy, have to be nimble in the event selling pressure picks up in the market.
We get a bearish pinbar at the close of the day, after hitting T1, we may opt to close out early, taking the money and running.
Hibbett Sports took a pretty decisive jump after touching its next support level the other day. Hibbett's had a bunch of recent analyst upgrades, and on Friday a single trader bought a huge number of July calls (79K shares) with a price target of 18.65 or better.
Having said all that, Recognia's Elliott Wave analysis of Hibbett suggests it will keep heading...
I've been closely watching Hibbett Sports, which met stiff resistance at 19.20. This morning it's formed an upward trendline toward the top of its channel. With good analyst ratings, Hibbett could even break out of its downward parallel channel in the relatively near future. At the very least it should rise steadily today.
Hibbett Sports is at the bottom of a downward sloping channel, but it's at a support in the 19.15-19.29 range, so I think we'll see a short-term rebound. Hibbett has pretty good analyst ratings and is undervalued based on its P/E and expected earnings growth.
Didn't drop today, huge short interest. Looks like a lot of covering, can't imagine anyone would want to go long on a dying business.
DKS reports tomorrow morning, we'll see what happens there. Retail will be watching Dicks in the morning, lol.
The sharp downtrend for HIBB cannot continue much longer. The current trend would hint at bankruptcy within 3 years, which is certainly not the case. My thinking is that the trend is about over and that we will start to see consolidation in the 12-26 range for a short time. That consolidation will move HIBB out of the downtrending channel and prepare it for a move...