HANS Hansen Natural Daily Chart Rising Wedge Negative Divergence

HANS daily chart shows a rising wedge and negative divergence, also clearly visible across all indicators on the weekly chart, which will spank price down. This appears to be a significant topping formation now. Would not be surprised to see current prices as a head of a potential H&S that will need a right shoulder as price rolls over moving forward. The 85 level is sturdy support and serves as a neckline for the potential H&S. The target, should an H&S form, and fail at the neckline at 85, is 73-ish.

Watch the RSI 50% level as an important indicator for price direction. HANS best days are behind it, it has been quite a run, but the upside appears limited from here. Some sideways movement will be in order as it tops and rolls over. Projection is sideways to sideways down for the weeks and months ahead, targeting intial failure of 85 in early 2012, then down to the low 70's. HANS is the beverage sector so the every ticker in the space would be suspect such as KO, PEP, LBIX, etc... If price moves up a buck or two higher as it continues to top and roll over, that would identify the sturdy support area at 70, thus, 70-73 is an attractive target for 2012.  This information is for educational and entertainment purposes only. Do not trade based on this information. Consult your financial advisor before making any investment decision.