Now that the HLF short trade is already up nearly 9% since entry yesterday, I figured that I better get the targets that I promised out asap. Since this stock had a nearly vertical plunge followed by a nearly identical vertical move higher, the daily chart is essentially void of any support (target) areas. Therefore, I have zoomed down to the 15 minute chart to identify what I think will be likely support areas to use as our profit targets. Currently, 38.05 as my first target and 35.60 as my second and final target.
Keep in mind that on a fast moving stock like this, these targets are subject to change. Depending on the price action on both HLF and the broad market, I might extend these targets or turn around and close the trade at any time. Therefore, I suggest that active traders take advantage of the email alert feature on this site as to be informed of any trade updates asap. 15 minute chart shown above. Note the trendline break on this time frame as well. A backtest of that TL could offer a second short entry or add-on. Stops remain on a move over 47.60 but some traders might prefer to lower stops to entry on this one to help assure a breakeven on this aggressive trade.