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HLF) is a global nutrition company that sells weight management, healthy meals and snacks, sports and fitness, energy and targeted nutritional products as well as personal care products. This stock closed up 9% to $65.50 in Wednesday's trading session.
Wednesday's Volume: 15.65 million
Three-Month Average Volume: 2.94 million
Volume % Change: 462%
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From a technical perspective, HLF ripped higher here tagging new 52-week highs with monster upside volume. This stock has been uptrending strong for the last two months, with shares soaring higher from its low of $42.09 to its intraday high of $66.50. During that move, shares of HLF have been consistently making higher lows and higher highs, which is bullish technical price action.
Traders should now look for long-biased trades in HLF as long as it's trending above some near-term support at $57.50 and then once it sustains a move or close above Wednesday's high of $66.50 with volume that hits near or above 2.94 million shares. If we get that move soon, then HLF will set up to enter new 52-week-high territory, which is bullish technical price action. Some possible upside targets off that breakout are $75 to $80.
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