Nearest Resistance: $55
Nearest Support: $50
Catalyst: Q4 Earnings, Guidance
Must Read: 4 Stocks Breaking Out on Big Volume
Toymaker Hasbro (HAS - Get Report) is seeing big volume after Monday's fourth-quarter earnings release. The firm reported weaker-than-expected profits for the critical fourth-quarter period, delivering earnings of $1.12 per share. Analysts were looking for $1.22. But solid guidance over upcoming toys with blockbuster movie tie-ins spared shareholders from selling pressure.
But Hasbro's ability to catch a bid this week isn't a huge surprise. HAS had been forming a broadening top pattern that triggered in late January, as shares sold off to the 200-day moving average. But a bounce pushed shares up to $50 ahead of earnings. The good guidance for next quarter officially breaks HAS out of bear mode.