During Wednesday night's Lightning Round on Mad Money, Jim Cramer commented on Mattel (MAT) and Hasbro (HAS) : "Mattel is a second-class Hasbro." Keeping that in mind, let's look at the charts of HAS remembering that there are only 139 more shopping days tills Xmas.
In this daily bar chart of HAS, below, we can see a bullish pattern that should support higher prices ahead. After bottoming in December-April, HAS started to rally into late July. Prices are above the rising 50-day moving average line as well the bullish 200-day line.
In late May we can see the 50-day line cross above the slower-to-react 200-day line for what is commonly called a golden cross.
The daily On-Balance-Volume (OBV) line shows a rise from January and this signals to us that buyers of HAS have been more aggressive than sellers.
The Moving Average Convergence Divergence (MACD) oscillator has been positive since late April and is poised for another cross to the upside.
In this weekly bar chart of HAS, below, we can see a recent upside breakout from a large consolidation pattern. Prices are above the rising 40-week moving average line.
The weekly OBV line shows a rise going back four years and the MACD oscillator on this longer time frame is still bullish at this juncture.
In this Point and Figure chart of HAS, below, we can see that an upside price target of $134 is being projected.
Bottom line strategy: It always pays to find the strongest stock in a sector, group or industry. Traders could go long HAS closer to $110 if available, risking a close below, $105 looking for $134 and maybe higher.