Herbalife is one tough stock. Even though it has been mowed down by hedge fund managers, the company continues to grow their earnings and defy the odds. The chart is showing a nice upward trajectory as it emerges from a recent 10% pullback. The trend line is intact, while a breakout from the symmetrical triangle on strong volume is impressive.
Herbalife Stock Chart (NYSE: HLF)
The MACD is flashing a buy signal and relative strength is impressive. This is in stark contrast to August, when the stock barely budged after the market tanked; it was a clear sign that sellers were absent. With earnings coming up in November, Herbalife could surprise everyone and make a move to the upside. It might be hard to believe, but there is still an enormously high short-term interest in the name, which could fuel a rise on a stock squeeze.
Herbalife Video Chart Analysis
Take a deeper dive into the chart action (NYSE: HLF) and learn how to read the technicals and my analysis as I mark up our chart of the week.
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About Herbalife
Herbalife Ltd., a nutrition company, develops and sells weight management, healthy meals and snacks, sports and fitness, energy and targeted nutritional products, and personal care products. The company offers science-based products in four principal categories, including weight management; targeted nutrition; energy, sports, and fitness; and outer nutrition. The weight management product portfolio includes meal replacement, protein shakes, drink mixes, weight loss enhancers, and healthy snacks.
