Hasbro Inc. (HAS) shareholders may be looking a lump of coal this December as the charts and technical indicators are pointed lower. Let's skip the fancy wrapping and dive right into the charts this afternoon.
In this daily bar chart of HAS, below, we can see a peak in prices back in September. Prices declined until late October and rebounded a bit in early November. On Monday and Tuesday HAS made new lows for the move down and broke the October lows. HAS is below the declining 50-day average line and the now bearish 200-day line. The daily On-Balance-Volume (OBV) line peaked in the middle of September and just made a new low for the move down confirming the price weakness and telling us that sellers of HAS have been more aggressive the past two months. The Moving Average Convergence Divergence (MACD) oscillator just turned lower from below the zero line for another outright sell signal.
In this weekly bar chart of HAS, below, we can also see a bearish alignment for the indicators. Prices are below the bearish 40-week moving average line. The weekly OBV line is pointed down and the MACD oscillator is close to crossing the zero line and an outright sell signal.
In this Point and Figure chart of HAS, below, we can see a distribution pattern since July (look for the "7" on the chart) and a downside price target of $79. A break below $77.49 could open the way to further declines.
Bottom line strategy: HAS could rebound in the short-run but the bigger picture is bearish. If you are long HAS you should use available strength to sell.