The Hasbro Inc. Stock Forming Higher Lows And Higher Highs

by Darius Anucauskas
12:39, 2022/04/20

Yesterday, Hasbro Inc. (NASDAQ: HAS) delivered its earnings for Q1 2022. The EPS missed its initial expectation of $0.67, coming out at $0.57. The company’s stock made a move lower after the report, however, it was able to stay above the high of March 29^th, which is at 87.69. If the share price continues to balance above that hurdle, we will remain positive, at least with the near-term outlook.

A rebound from the aforementioned 87.69 hurdle may drag the stock towards the 200-day EMA on our 4-hour chart, or the 90.55 zone, marked near the highs of March 16^th and 22^nd, where a temporary hold-up might occur. That said, if the buyers stay in control, that zone could be seen as a temporary pit-stop before a possible further move north. That’s when we will aim for the 94.21 level, marked by the inside swing low of March 1^st.

The RSI is currently pointing lower but remains above 50. The MACD is pointing north, while running above zero and the signal line. Overall, both oscillators show positive price momentum, which supports the idea mentioned above.

In order to move away from the upside scenario, we would prefer to wait for a break of a short-term upside support line taken from the low of March 31^st. Additionally, a price-drop below the 82.65 hurdle, marked by the low of last week, could push away new buyers from entering, for a while. HAS may travel to the lowest point of March, at 81.23, where the stock might stall temporarily. However, if that obstacle fails to hold, this will confirm a forthcoming lower low, possibly clearing the way towards the area between the 78.65 and 78.99 levels, marked by the high of September 28^th and the low of September 29^th, 2020, respectively.

Disclaimer:

The content we produce does not constitute investment advice or investment recommendation (should not be considered as such) and does not in any way constitute an invitation to acquire any financial instrument or product. The Group of Companies of JFD, its affiliates, agents, directors, officers or employees are not liable for any damages that may be caused by individual comments or statements by JFD analysts and assumes no liability with respect to the completeness and correctness of the content presented. The investor is solely responsible for the risk of his investment decisions. Accordingly, you should seek, if you consider appropriate, relevant independent professional advice on the investment considered. The analyses and comments presented do not include any consideration of your personal investment objectives, financial circumstances or needs. The content has not been prepared in accordance with the legal requirements for financial analyses and must therefore be viewed by the reader as marketing information. JFD prohibits the duplication or publication without explicit approval.

There are risks involved with trading of cash equities. Past performance is not indicative of future results. You should consider whether you can tolerate such losses before trading. Please read the full Risk Disclosure.