• Return to Headlines

Possible Bearish Inside Day Candle Pattern Detected for Herbalife Ltd (NYSE:HLF)

By David Diaz

SmarTrend's candlestick scanner has spotted a possible bearish inside day candle pattern in Herbalife Ltd (NYSE:HLF) based on the price action in the company's shares. Yesterday's price range of $37.22 and $38.16 is within the prior day's high and low of the day. This trading action often signifies indecision by bulls and bears to drive prices higher or lower and often implies a possible change in trend. Owners of Herbalife Ltd may want to consider a possible hedge in the event a pullback occurs. Look for confirmation in the next few trading days.

Herbalife Nutrition Ltd. operates as a nutrition company. The Company manufactures and sells weight management, meals and snacks, sports and fitness, energy, and nutritional products, as well as personal care products. Herbalife Nutrition serves clients worldwide.

Potential upside of 43.1% exists for Herbalife Ltd, based on a current level of $37.35 and analysts' average consensus price target of $53.44. The stock should hit resistance at its 200-day moving average (MA) of $38.98, as well as support at its 50-day MA of $31.28.

In the past 52 weeks, Herbalife Ltd share prices have been bracketed by a low of $20.73 and a high of $54.37 and closed yesterday at $37.35, 80% above that low price. Over the past week, the 200-day moving average (MA) has gone down 0.2% while the 50-day MA has declined 0.5%.

SmarTrend is tracking the current trend status for Herbalife Ltd and will alert subscribers who have HLF in their portfolio or watchlist when shares have changed trend direction.

Keywords: bearish am inside day candle herbalife ltd

Ticker(s): HLF