Don't Ignore This Chart

Hibbett Sports (HIBB) Breaks Through To New Highs

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This little sporting company, Hibbett Sports (HIBB) sports an average of 600,000 shares a day. It has struggled in a wide range between $22 - $29 for a good six months. Today it forged a new intraday high and a new closing high. This run up has been sharp. I might expect it to pause after breaking out and pull back. The pullback would be a better time to catch it with a tight stop.

Good trading,
Greg Schnell, CMT, MFTA

Greg Schnell
About the author: , CMT, is a Senior Technical Analyst at StockCharts.com specializing in intermarket and commodities analysis. Based in Calgary, he is a board member of the Canadian Society of Technical Analysts (CSTA) and the chairman of the CSTA Calgary chapter. He is also the author of Stock Charts for Dummies (Wiley, 2018). Learn More
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