So far this year, shares of the nutrition company have gained more than 45%.
Herbalife is a Cayman Islands-based 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.
Insight from TheStreet's Research Team:
The battles between activists Carl Icahn and Bill Ackman are legendary, and for sure, the controversy over Herbalife (HLF) has been noted.
Yet, the stock continues to power up, nearly hitting a 52- week high yesterday in the worst tape imaginable. Despite the potential risks to shareholders, including accusations by Ackman that the company is a ponzi scheme, Herbalife's stock performance is impressive.
The chart shows a very tight range as Herbalife grinds higher. Note the nice relative strength, and the %R just gave a buy signal on a bull retest last week.
Volume trends have been good of late but it is that relative strength in the top pain that really impresses. We could see more upside here in the days ahead.
DISCLOSURE: Trifecta Stocks has no position in HLF. This Alert is a technical analysis of the company's chart, and we are not taking any action in the stock at this time.