After Yesterday's Rally of 1.18% Shares Could Potentially Pullback
Herbalife (NYSE:HLF) traded in a range yesterday that spanned from a low of $61.76 to a high of $62.77. Yesterday, the shares gained 1.2%, which took the trading range above the 3-day high of $62.35 on volume of 765,000 shares. Often times after large one-day gains, short term traders will seek to take profits and, as such, investors should be cautious.
Herbalife share prices have moved between a 52-week high of $72.22 and a 52-week low of $39.51 and are now trading 59% above that low price at $62.65 per share. Over the past week, the 200-day moving average (MA) has gone up 0.2% while the 50-day MA has advanced 1.5%.
SmarTrend recommended that subscribers consider buying shares of Herbalife on February 26th, 2016 as our proprietary SmarTrend analytics indicated a new Uptrend was in progress when shares hit $55.07. Since that recommendation, shares of Herbalife have risen 12.6%. We continue to monitor HLF for any potential shift so investors can protect gains and will alert SmarTrend subscribers immediately.
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