bugzy300
Long

GNC breaks out of long term trend

NYSE:GNC   GNC HOLDINGS INC
Good morning. This is my first published trade idea so I hope it’s a good one. I was doing research about the vitamins and supplements and I realized the potential for people to stop taking the medications that they are prescribed and substitute them with vitamins. I went with my wife on our weekly trip to the vitamin shoppe and I realized that this could be a trend that could catch on. I asked my wife the obvious question, "Why don't you just shop on Amazon for these products?" She said that Amazon doesn't carry all the products and that it’s nice to ask for assist at a physical store. I went home and realized that Vitamin shoppe had a stock that was sitting around $4-5 a share. The weekly chart was looking very attractive and they just replaced the Chief Executive Ofiicer. The stock double in the couple weeks and my wife was very happy. That brings me to GNC . China has been heavily invested in the company and that chart pattern is very similar the ones of Vitamin Shoppe $VSI. The price is sitting around $3. With a stop loss at $2.94 it looks like a interesting trade. The weekly 50 MA is right $5 so the upside could be near 60% with a downside of 2% with the stop loss.

I own or might start a position in GNC in the next 72 hours.
Comment: The current price is sitting at $4.14 which about 30% higher than the entry level trade at $3. I will be uploading an updated chart on where the stock trade next.
Home Stock Screener Forex Screener Crypto Screener Economic Calendar How It Works Chart Features Pricing House Rules Moderators Website & Broker Solutions Widgets Charting Solutions Get Help Feature Request Blog & News FAQ Wiki Twitter
Profile Profile Settings Account and Billing Get Help Ideas Published Followers Following Private Messages Chat Sign Out