I guess this guy showed up in his chiseled-out body to give the GNC earnings report this morning, because after the initial spike higher, this thing has dropped hard and fast.
And what we have now ais a trend-line off of last years October’s lows, now cracking and looking to move lower, with a huge bearish engulfing pattern on the daily.
Word of advice though, this stock moves extremely fast, and while I got in at $36.50, you may want to wait until this stock settles down a bit before jumping in.
Here’s the GNC Trade Setup.
SHORT: GNC Holdings (GNC)
[Update: Apparently the masses like the Joe Dirt vitamin supplements, because I got squeeze out of this highly volatile play today at $37.12 – which was a little earlier than I originally planned, but the 5min chart, showed that if it broke that level, it would rally hard and boy did it ever!]
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