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One global network marketing player that insiders are buying a huge amount of stock in here is Herbalife ( HLF), which sells weight management, healthy meals and snacks, sports and fitness, energy and targeted nutritional products as well as personal care products. Insiders are buying this stock into notable strength, since shares are up 30% so far in 2013.

Herbalife has a market cap of $4.4 billion and an enterprise value of $4.4 billion. This stock trades at a cheap valuation, with a trailing price-to-earnings of 10.09 and a forward price-to-earnings of 7.90. Its estimated growth rate for this year is 17.8%, and for next year it's pegged at 14.5%. This is not a cash-rich company, since the total cash position on its balance sheet is $722.47 million and its total debt is $976.52 million. This stock sports a dividend yield of 2.9%.

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Billionaire hedge fund manager Carl Icahn, who is also a beneficial owner, just bought 611,354 shares, or $24.97 million worth of stock, at $40.85 per share. This purchase by Icahn raised his stake in Herbalife to 16.48% from 15.5%.

From a technical perspective, HLF is currently trending above its 50-day moving average and just below its 200-day moving average, which is neutral trendwise. This stock has been uptrending strong for the last month, with shares soaring higher from its low of $34.72 to its recent high of $44.60 a share. During that move, shares of HLF have been consistently making higher lows and higher highs, which is bullish technical price action. That move has now pushed shares of HLF within range of triggering a major breakout trade.

If you're bullish on HLF, then I would look for long-biased trades as long as this stock is trending above some key near-term support at $40 and then once it breaks out above both its 200-day at $43.92 and some more key resistance levels at $44.60 to $45.70 a share with high volume. Look for a sustained move or close above those levels with volume that hits near or above its three-month average action of 3.82 million shares. If we get that breakout, then HLF will set up to re-test or possibly take out its next major overhead resistance levels at $47.16 to $47.45 a share. Any high-volume move above those levels will then put $53.50 to $56.50 into range for shares of HLF.

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