Are you playing Monopoly Go too? $HAS- June 14, 2024
This is Scott McGregor with StockMarketMentor.com and your Chart of the Day. I want to take a look at Hasbro ( NASDAQ: HAS ), and ask you this question are you playing Monopoly Go too? I am playing Monopoly Go as I am recording this video, and I’ve got to tell you, this game is addicting.
The Hasbro ( NASDAQ: HAS ) stock, today, got an upgrade because analysts are probably also playing. They say that the stock is undervalued because they don’t think the market understands how much money Hasbro ( NASDAQ: HAS ) will make because of this game.
I will admit, it is quite addicting. I’ve paid into the game, and my wife has paid into the game. You pay money and then you get dice, and then you can roll the dice more. You only have a certain number of dice that you get to roll for free, and then they want you to pay. If you go back to the app the next day they refresh your dice and you get more so they spread it out.
It’s a pretty great game and I wouldn’t be surprised if they build out on other apps, other popular games like Monopoly and whatnot. Hasbro ( NASDAQ: HAS ) has a chance to make a big comeback here. Now, of course, this is just napkin math fundamentals, I haven’t done too big of a deep dive, other than play Monopoly Go.
But the chart pattern that I’m looking at right now, is quite interesting. Because we have a clear downward-sloping trendline, a break above that downward-sloping trendline, on higher than average volume, and now the stock is back above all the major moving averages, and the moving averages are trying to get into order.
I’d be interested to see if we get a crossover here with the 8-day exponential period moving average, the orange line, the fastest moving average on the screen, moving above the 21-day and the 50-day. And then potentially giving us a trend change with a continuation to the upside here on the stock.
Now, of course, this is hypothetical but, I do believe that this stock looks interesting because we have clear support right now down at that 50-day moving average. If the stock drops under the 50-day moving average you want to ignore it. But if you can hold above, stay above, and potentially print some higher highs, I think Hasbro ( NASDAQ: HAS ) could be a bit of a turnaround story.
As you can see the stock has really not done much for the last couple of years, other than go down. So if the hype around Monopoly Go brings buyers to the stock, this could be an actionable idea. This is one on my watch list and I will be sharing it with our members tonight at StockMarketMentor.com, and I wanted to share it with you as well.
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