GNC Holdings Inc (NYSE: GNC)

GNC Holdings, Inc. operates as a specialty retailer of health and wellness products. It operates through three segments: Retail, Franchise, and Manufacturing/Wholesale. The company's products include vitamins, minerals, and herbal supplement products, as well as sports nutrition products, diet products, and other wellness products. It also manufactures its branded products for various third parties. The company sells its products under GNC proprietary brands, including Mega Men, Ultra Mega, Total Lean, Pro Performance, and Pro Performance AMP, as well as under third-party brands. The company sells its products through company-owned domestic retail stores, domestic and international franchise activities, third-party contract manufacturing, e-commerce, and corporate partnerships. It also offers its products at GNC.com, LuckyVitamin.com, and drugstore.com. GNC Holdings, Inc. was founded in 1935 and is headquartered in Pittsburgh, Pennsylvania.
Please take a look at the 1 yr. chart of GNC (GNC Holdings, Inc) that I have shown below with my added notations:
GNC has formed a very nicely defined upchannel over the last (9) months. A channel is simply formed through the combination of a trend line support that runs parallel to a trend line resistance. When it comes to a channel any (3) points can start the channel, but it's the 4th test and beyond that confirm it. You can see that GNC has multiple test points between the channel resistance (red) and the channel support (blue). Following the GNC channel can provide you with both long and short trading opportunities.

The Tale of the Tape: GNC has formed a common chart pattern know as a channel, in this case, an up-channel. A long opportunity could be entered on a pullback to the channel support, which is approaching $52. Short trades could be entered at channel resistance OR if GNC were to break below the channel support.
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