AI
Tuesday, December 19, 2017 12:00:08 PM
The Herbalife Ltd (NYSE:HLF) Chart Indicates Downside
Herbalife Ltd (NYSE:HLF) is a leading global nutrition company. Recently, the stock has tried to recapture its 50-day moving average but has failed on multiple attempts over the past month. When a stock trades below a key moving average it will generally be viewed as a negative in the chart. Today, HLF stock is trading around the $68.00 level which is just above the important 200-day moving average at $67.45. A failure to hold this key area will indicate further weakness in the equity and a potential decline down into the $61.00 level. The $61.00 area is where there should be solid institutional support. This level is where the stock was supported in August 2017. Often, prior support levels will be defended when retested.
Nicholas Santiago
InTheMoneyStocks
Herbalife Ltd (NYSE:HLF) is a leading global nutrition company. Recently, the stock has tried to recapture its 50-day moving average but has failed on multiple attempts over the past month. When a stock trades below a key moving average it will generally be viewed as a negative in the chart. Today, HLF stock is trading around the $68.00 level which is just above the important 200-day moving average at $67.45. A failure to hold this key area will indicate further weakness in the equity and a potential decline down into the $61.00 level. The $61.00 area is where there should be solid institutional support. This level is where the stock was supported in August 2017. Often, prior support levels will be defended when retested.
Nicholas Santiago
InTheMoneyStocks
