Hasbro, Inc. : Bearish scenario preferred
Entry price | Target | Stop-loss | Potential |
---|---|---|---|
$39.69 | $0 | $40.8 | +100% |
Technically, the security could run out of steam close to the USD 40 resistance. Indeed, the stock is moving in an upward trend in the short term but it could know a halt. In this context, the downward movement is expected with a return to USD 37.4. Indicators that show an overbought situation confirm this scenario.
The upside seems limited as shown by technical configuration. In contact with the USD 40 resistance, a movement of consolidation could return the stock towards the USD 37.4 mid-term support. As a result, the most aggressive investors could take a short position near USD 40 but they need to set a stop loss above this resistance because the crossing of this level would invalidate our scenario.