Look for a Short in HBI
Back in January I noted that basic apparel manufacturers Hanesbrands (HBI) and Warnaco (WRC) were showing positive technical signs as their stock prices tested important resistance levels. Both stocks broke above those resistance levels over the next two months, with HBI moving 26% higher and WRC up 11%. The technical conditions of these stocks have been deteriorating recently, and now important support levels are in jeopardy.
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