Earnings Play: Hasbro
Jason Lubin July 24, 2020 4:35 PM
How to play Hasbro's 2Q earnings release on Monday morning.
On Monday, before market, Hasbro (HAS) is expected to release 2Q EPS of $0.20 compared to $0.78 the prior year on revenue of approximately $994.8M vs. $984.5M last year. The company manufactures toys and games, and on its current analyst consensus rating is 12 buys, 6 holds and 0 sells, according to Bloomberg.
From a technical point of view, on a daily chart, Hasbro's stock price has been trying to hold above a rising support trend line that began to form in late-March. The RSI is currently over 60 and appears to be getting ready for a slight pull back. Price may lose some steam and fall back to its $75.00 support level, right on top of the trend line, where a bounce is likely to occur. If price successfully bounces it could continue upward to retest the $84.00 resistance level. If price can break above the $84.00 level, there is a high probability that price will continue rising and grind toward the $90.00 level. If price fails to find support at the $75.00 level, we could see price fall to the $70.00 level. If price cannot find support at $70.00, then price would likely begin a new-short term downtrend, as price will have broken to the downside of the rising support trend line.
Source: GAIN Capital, TradingView
Disclaimer: The information on this web site is not targeted at the general public of any particular country. It is not intended for distribution to residents in any country where such distribution or use would contravene any local law or regulatory requirement. The information and opinions in this report are for general information use only and are not intended as an offer or solicitation with respect to the purchase or sale of any currency or CFD contract. All opinions and information contained in this report are subject to change without notice. This report has been prepared without regard to the specific investment objectives, financial situation and needs of any particular recipient. Any references to historical price movements or levels is informational based on our analysis and we do not represent or warranty that any such movements or levels are likely to reoccur in the future. While the information contained herein was obtained from sources believed to be reliable, author does not guarantee its accuracy or completeness, nor does author assume any liability for any direct, indirect or consequential loss that may result from the reliance by any person upon any such information or opinions.
Futures, Options on Futures, Foreign Exchange and other leveraged products involves significant risk of loss and is not suitable for all investors. Losses can exceed your deposits. Increasing leverage increases risk. Spot Gold and Silver contracts are not subject to regulation under the U.S. Commodity Exchange Act. Contracts for Difference (CFDs) are not available for US residents. Before deciding to trade forex and commodity futures, you should carefully consider your financial objectives, level of experience and risk appetite. Any opinions, news, research, analyses, prices or other information contained herein is intended as general information about the subject matter covered and is provided with the understanding that we do not provide any investment, legal, or tax advice. You should consult with appropriate counsel or other advisors on all investment, legal, or tax matters. References to Forex.com or GAIN Capital refer to GAIN Capital Holdings Inc. and its subsidiaries. Please read Characteristics and Risks of Standardized Options.