After Yesterday's Rally of 1.34% Shares Could Potentially Pullback
Herbalife (NYSE:HLF) traded in a range yesterday that spanned from a low of $66.41 to a high of $68.75. Yesterday, the shares gained 1.3%, which took the trading range above the 3-day high of $67.95 on volume of 902,000 shares. Often times after large one-day gains, short term traders will seek to take profits and, as such, investors should be cautious.
In the past 52 weeks, Herbalife share prices have been bracketed by a low of $39.51 and a high of $72.22 and are now at $68.08, 72% above that low price. 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 21.7%. We continue to monitor HLF for any potential shift so investors can protect gains and will alert SmarTrend subscribers immediately.
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