Hasbro (HAS) Sinks, Here’s The Trade Level

President & CEO Chief Market Strategist at IntheMoneyStocks.com • Feb 12, 2020 at 1:45 PM EST

The stock is seeing some follow-through selling today indicating further weakness ahead. HAS stock is now trading below it’s important 50 and 200-day moving averages.

Yesterday morning, leading toy and game manufacturer, Hasbro Inc (Nasdaq: HAS), sold off after reporting earnings. The stock is seeing some follow-through selling today indicating further weakness ahead. HAS stock is now trading below it’s important 50 and 200-day moving averages. Traders must now watch for daily chart support around the $93.00 level. This support area is where the stock was defended in November 2019. Often, when a stock retests a major prior pivot low it will be defended initially at that level.

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