HERBALIFE testing the COVID low. Make or break time!

Herbalife Nutrition Ltd (HLF) is having a strong day so far, which is taking place just less than a dollar away from the 20.75 Support that was formed on the March 17 2020 Low, cause by the COVID pandemic.

The chart on the left is on the 1D time-frame while the chart on the right is on the 1W. As long as the 20.75 Support holds, we can expect at least the 1D MA50 (blue trend-line) to be tested and when it does, we can re-evaluate based on the market fundamentals for higher targets such as the Fibonacci retracement levels (which during the 2020 rise got filled one by one).

If however the 20.75 Support breaks, we expect further downfall to Support 2, which was formed by the distant January 07 2015 Low of $13.80. As you see on the 1W (right) chart, every time the RSI based MA (yellow trend-line) broke, we had a confirmed uptrend of several weeks (exception October 18 2021). If you seek less risk and lower returns, you may wait for that signal.



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