Hasbro, Inc. (HAS): Chart Pattern Predicts a Big Sell-off in This Stock in the Next 6 Weeks

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From a technical point of view, this consolidation formation following an initial sell-off can be classified as a bear flag. The flag pole of the formation is measured by calculating the difference between the swing high and the swing low.

In the case of Hasbro, Inc. (NASDAQ:HAS), the difference between the May 22 high at $48.97 and the June 6 low at $43.46 is about 5.5 points. We then take this number and subtract it from the lows of the swing to arrive at a potential price target near $38.

Hasbro Stock Chart - Daily

Recommended Trade Setup:

— Buy HAS on a daily close below $43.80, and thus a break out of the bear flag formation
— Set stop-loss at $45
— Set initial price target at $40 for a potential 9% gain in 3-6 weeks
— Set secondary price target at $38 for a potential 13% gain in 3-6 weeks

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This article was originally written by Serge Berger and posted on ProfitableTrading.




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