GNC which operates 2340 nutrition stores worldwid, closed midbar on October 26 on big volume which can be a showing of support. Thus today's volume does not have to be higher than the volume on October 26 to qualify as a pocket pivot. Further, GNC is having a breakout from its basing pattern as well. Industry group ranking is 8th out of 202, both sales and earnings are accelerating, and institutional sponsorship has increased over the last 2 quarters.
Keep in mind this stock is a recent IPO and is a mid- to smaller cap stock so is more vulnerable to the market's volatility.
This information is provided by MoKa Investors, LLC DBA Virtue of Selfish Investing (VoSI) is issued solely for informational purposes and does not constitute an offer to sell or a solicitation of an offer to buy securities. Information contained herein is based on sources which we believe to be reliable but is not guaranteed by us as being accurate and does not purport to be a complete statement or summary of available data. VoSI reports are intended to alert VoSI members to technical developments in certain securities that may or may not be actionable, only, and are not intended as recommendations. Past performance is not a guarantee, nor is it necessarily indicative, of future results. Opinions expressed herein are statements of our judgment as of the publication date and are subject to change without notice. Entities including but not limited to VoSI, its members, officers, directors, employees, customers, agents, and affiliates may have a position, long or short, in the securities referred to herein, and/or other related securities, and may increase or decrease such position or take a contra position. Additional information is available upon written request. This publication is for clients of Virtue of Selfish Investing. Reproduction without written permission is strictly prohibited and will be prosecuted to the full extent of the law. ©2021 MoKa Investors, LLC DBA Virtue of Selfish Investing. All rights reserved.