HLF Herbalife Daily Chart Cup and Handle

Herbalife is playing out daily drama in the markets since the two billionaires, Ackman and Icahn, continue to fight over the company. Ackman is on the short side and Icahn is on the long side. The C&H says that Icahn will win.  The cup and handle pattern is sporting a funky double handle. Thus, the base is 26, and top breakout line at 47-48 is a difference of 22 so the upside target is 70 if price breaks up through 48. The 70 is where price was at before the large drop started.  The indicators all verify the recent sideways vibe but note the RSI that is breaking out to the upside, also the MACD. Over the last two weeks, price is not even up at that prior high, so the positivity in the RSI and MACD gives the bulls the upper hand. So a test of the 47-48 should be on tap. If price breaks up through 47-48 continuing higher, Ackman will start to feel serious pain. These guys are smart, however, so they surely have hedged trades and other instruments in place to minimize damage if they are wrong. So watch to see if a C&H plays out, or not. This information is for educational and entertainment purposes only.  Do not invest based on anything you read or view here.  Consult your financial advisor before making any investment decision.