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.
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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.
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Bearish Stock #2 – Cinemark Theatres
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.
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