7pasos
Long

I do not see why this puppy shuld not go higher

NYSE:HLF   HERBALIFE LTD
After all the scandal about Herbalife             and Ackman talking against this company, from a merely technical stand point of view I must say, can't see why should not look for new highs.

As long as the historic of this chart let's me view, we came from a strong rally, that were severely retraced 76.4% in log scale.

This means that this or is the A or 1 of a structure, which means that the price usually could rise till 1 to 1 relation-ship which should be at least to 93 per share (more or less).
Besides the last stated, the last impulsive wave do not seems finished as you can see in my wave count the last structure misses a v)) wave to be completed.

Even more, if the price breaks the 47 level, the retrace is more probably a new sing of extension.

So this shuld not fall, at least, until it gets the 93 per share or more.
7pasos PRO
2 years ago
I must add, I have no position in this stock or intention to have it. Just I made this wave count because I got curious about the state of the chart after hear the news about this company.
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