It’s a telltale sign of recovery in a stock: higher lows.
One chart standing out to me here is HLF, which now has a pair of higher lows since the low was established on January 7th. Price is also currently basing in a narrowing fashion, and a turn back up may set this one free to continue its recovery effort.
The great unknown is the earnings announcement, scheduled for this evening. Option premiums are juiced in expectation (62% IV Rank) with an expected move of about $3.40.
However, if the stock does happen to sit idle after the big number, this is one that belongs on watch in the days ahead. Cut in half just since last July, there’s ample room for a rally. April implied volatility is north of 96.5%, so this one is no stranger to movement (or rich premiums).
Here’s a chart:
I’ll be watching what this one does post-EPS.
Jeff