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

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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 an active member of both the Market Technicians Association (MTA) and the International Federation of Technical Analysts (IFTA).

Greg is also the co-author of Stock Charts for Dummies (Wiley, 2018). Greg joined StockCharts.com in 2012 and has be instrumental in helping launch a variety of new blogs and other commentary platforms. Presently, Greg contributes market analysis commentary to The Canadian Technician, Commodities Countdown and Don't Ignore This Chart blogs. Learn More
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