Several previous consolidation patterns for HLF have not panned out and have morphed into more extended consolidation patterns. Thus it is possible that this could morph into a rectangle-shaped consolidation and extend further.
I'm still long.
Icahn has added to his position twice for the first time in quite a while.
That has taken some supply of shares out of the market.
I expect that he will purchase some additional shares and try to get his position up a few more percentage points.
Once that has been accomplished, I expect the company to announce a Modified Dutch Tender offer for something on the order of $1.2 billion of stock using its new credit facilities and cash on the .
That could reduce the share count a further 10%-20%.
The M.O.A.S.S.* is almost upon us!
*M.O.A.S.S = Mother of All Short Squeezes