• Herbalife HLB swing trade double bottom long

I know that there is a lot of controversy behind Herbalife (HLF) and rumors that it is some kind of ponzi scheme, Carl Icahn’s position in the stock or why Bill Ackman has made his short position in the stock such a personal one. 

All that talk, news and made-for-tv debate is senseless and pointless to me….just show me a chart (I had to actually google “Carl Icahn Herbalife” just so I could sound smart for this post).

I took a look at it this morning and I liked what I saw. The stock broke out of a double bottom, and is dramatically pushing higher at this point. I could get long here, but to do so would dramatically widen my risk on the stock. Instead, I am going to play it patient and wait for a pullback in the stock somewhere below $51 and try to play the short-term pullback as a bounce play higher. 

Here’s my chart and how I will look to trade it:

Herbalife HLB swing trade double bottom long 

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