Incoming 200% gain for Nu Skin Enterprises ??On the above 6 day chart price action has corrected 80% since January 2021. A number of reasons now exist for a long position.
1) Price action and RSI resistance breakouts.
2) Regular bullish divergence.
3) Support and resistance. Look left. Price action is on legacy support. See monthly chart below.
4) No share splits.
5) Market structure broke around 30 and has never been tested. That is a 200% rally until resistance.
Is it possible price action continues to correct? Sure
Is it probable? No
Ww
Type: trade
Risk: 2-3%
Timeframe for long: weeks
Return: 200%
Monthly chart