Three weeks tight pattern concludes tomorrow.
Short tards would love to break it down, but as the chart reveals, longs won't have it and we give it about a 97% chance of resolving with a fresh breakout higher on substantial volume over the next day or two.
Pivot is at $68.10... are we the only ones buying it while the tards try to stuff it this morning? Wait until Carl's pals see it. LOL
Hope all the short f heads are enjoying themselves today... looks like 3 weeks tight is already resolving, right when some might have guessed another week.
We still hope to get another bite of the apple in the low $60s. Fingers crossed.
This is it... that selloff we hoped we'd see at the end of the 3-4 weeks tight pattern. Have you noticed the low volume? Maybe we should send a thank you note to the geniuses running Syria.
It is time to buy all you can. We added another big chunk below 61.20 with various ecn. We are also just about done covering the offset hedge now.
Be ready to for the upside turn -- coming right up now and back to $68 by the Friday.
I am out the rest of the week but I was waiting to see if HLF would respond how you had anticipated. It did, so I took advantage of the run up in mid-afternoon to hedge with options. If exercised, I should be able to reenter my position at my hedged strike price unless it completely takes off on me in the next 4 trading sessions. Good luck this week.
Re the 3-4 weeks tight pattern, NUS mentioned in the Weekend edition of IBD on this topic:
"Nu Skin Enterprises (NUS) continued to hold tight after big bouts of accumulation in July. It's now in a four-weeks-tight pattern with a 90.10 buy point. Tight action is a sign of institutional support."
The buy/add point for HLF will be $68.20 or so using IBD's framework, but the stock's consolidation range is an obvious accumulation level as I noted last week on the comments re adding in low to mid 60s if it happens. The next interesting chart point is the $71.10 pivot, and above that a final resistance nub in the mid $73 range... but no glass ceiling above that until well past $90.
Get ready for some volume RIP to the upside.
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Hey numb F, the 3 weeks tight pattern supercedes the prior right side building...
But you apparently don;t realize that we have fun with the charts as a side analysis. what matters is fundamentals and institutional sponsorship. You short tards are roadkill my partner enjoys saying... squirm around a bit and feed the crows as you paint the pavement red. LOL