chasethatmoney

HBI Short

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NYSE:HBI   Hanesbrands Inc.
The "falling three methods" is a bearish, five-candle continuation pattern that signals an interruption, but not a reversal, of the current downtrend. I would short below the yellow trend line support on a break and close of it with a 1 hour candle and with a stop loss just above the trend line. There was huge red volume spike and oscillators are looking bearish trading below the zero line. The next candle in the formation should be a red candle breaking down below the trend line or of the last candle . It could bounce off that trend line So be careful and use a stop loss and wait for confirmation of a breakdown of the trend line
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