Herbal Life, HLF:
1. Herbalife continues it’s sharp decline this week (week of Nov. 3) off its $56.74 swing high.
2. A weekly close this week below $44.60 in Herbalife is the weaker position and places the market in a ‘Sell’ position for further decline and test of $39.70, then $37.70 into the 3rd week of Nov. (+1 week). Aggressive can sell short at this time (current price $42.00).
3. An initial sell stop should be placed at $45.00 This stop will be moved lower as the market continues to confirm.
1. In yesterday’s (Wed., Nov. 5) report, it was noted that a weekly close this week (week of Nov. 3) below $44.60 in Herbalife was the weaker position and would put the market in a ‘Sell’ position for further decline and test of $39.70, then $37.70 into the 3rd week of Nov. (+1 week). Aggressive were instructed to sell short at the market (at the current price of $42.00).
2. Aggressive entries should exit a portion of their short position at current prices (current price $40.70).
3. A protective buy stop should be placed at $42.65. This stop will be moved lower as the market continues to confirm.
1. Our Wed. Nov. 5 (and later) reports indicated Herbalife was in a ‘Sell’ position at $42 for a tradable forecast decline to $38/$37.
2. After our short entry Herbalife declined quickly and completed the $38.00 downside target (today’s session low, $38.00, so far). This effectively completes the trade.
3. Aggressive can maintain any remaining short positions for the possibility of lower prices. Will message any further entry or indication as the market confirms.