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Volume-Driven Gain for New High Ahead of Earnings Report - Thursday, August 26, 2021
Hibbett Inc (HIBB +$1.85 or +1.90% to $98.97) hit a new all-time high with above average volume behind today's 5th consecutive gain. The gain and close above the pivot point was backed by +59% above average volume triggering a proper technical buy signal. HIBB was highlighted in yellow in the 8/25/21 mid-day report (read here) with pivot point cited based on its 7/12/21 high plus 10 cents. The 50-day moving average (DMA) line ($87) and recent low ($80.14) define important support to watch on pullbacks.
Keep in mind that HIBB has its Jul '21 quarterly earnings report due before the market opens on Friday, August 27, 2021. Volume and volatility often increase near earnings news. It has a 91 Earnings Per Share rating now. It posted very strong Apr '21 quarterly results. Versus the year ago periods it has shown 4 strong quarterly comparisons. Annual earnings (A criteria) history has been improving since a downturn in FY '17 and '18.
The high-ranked company hails from the Retail - Leisure Products group which is now 7th on the 197 Industry Groups list (L criteria). The number of top-rated funds owning its shares rose from 422 in Sep '20 to 476 in Jun '21, a reassuring sign concerning the I criteria. Its current Up/Down Volume Ration of 1.4 is an unbiased indication its shares have been under accumulation over the past 50 days.
