Underwear, cheesecake, and movies .. what do they have in common? They all belong to a group of 3 bearish stocks that started the year lower and to be added to our watchlist. This group includes Hanes (HBI), Cheesecake Factory (CAKE) and Cinemark Theatres (CNK) all trending downwards.
Disclaimer: Please use the information here for entertainment purposes only as we are not financial advisors. Trading involves financial risks and we are not making any recommendations or responsible for any loss.
Bearish Stock #1 Hanes Brands (HBI)
Hanes Brands (HBI) is our 1st bearish stock and has been in a downtrend since the beginning of the year. It will report earnings on 1/20 for the period ending December 2019. Looks like there is overhead resistance around $15. The weekly and daily charts are listed below.
Not a bear? Check out bullish stocks here.
Bearish Stock #2 – Cinemark Theatres
The 2nd bearish stock is Cinemark Holdings (CNK); the chain of movie theatres that are also declining in 2020.
We are seeing resistance at around $35. Is this a short stock play or a buy at a discount?
Bearish Stock #3 – Cheesecake Factory (CAKE)
The popular Cheesecake Factory restaurant chain is also restricted by overhead resistance at around $42 and earnings coming up on Feb 17.
Do you have stocks that you are watching? Please list them below and share! Other ideas here.
