On January 16, 2014 at 8:40am EST, we said the following of Nu Skin Enterprises (NUS):
“If the stock closes below $79.28 then the price should vacillate at or below the rising conservative SRL in the medium-term. If the stock manages to close above the $79.28 level then the upside target is $118.92. Additionally, the extreme downside target of $46.83 is just on the horizon. In theory, this stock should achieve the extreme downside level before hardened speculators will jump in.”
On August 6, 2014, NUS declined as low as $43.50 and closed at $46.52. An updated Speed Resistance Line is included below:
NUS has met our January 2014 call for the extreme downside target of $46.83. It is at this point that NUS becomes interesting to hardened speculators. Based on Gould’s SRL, NUS has an upside targets of $82.73 and $118.92.