GNC Holdings Inc (NYSE: GNC)

GNC Holdings, Inc. operates as a specialty retailer of health and wellness products. The company operates through three segments: Retail, Franchise, and Manufacturing/Wholesale. Its products include vitamins, minerals and herbal supplements, sports nutrition products, diet products, and other wellness products. The company sells its products under GNC proprietary brands, including Mega Men, Ultra Mega, Total Lean, Pro Performance, Pro Performance AMP, Beyond Raw, GNC Puredge, GNC GenetixHD, and Herbal Plus, as well as under third-party brands. It operates a network of approximately 8,900 locations worldwide.
Take a look at the 1-year chart of GNC (NYSE: GNC) with the added notations:

GNC looked like it might have been rounding out a top from November through July, but then the stock shot to new highs instead. Now, the stock seems to be coming back down to that same July low. Over the past year, GNC has found support at that same $41.00 support (green) on multiple occasions. Traders could expect some sort of bounce if the stock reaches that support again. However, if the $41.00 support were to break, lower prices should follow.

The Tale of the Tape: GNC has an important level of support at $41.00. A trader could enter a long position at $41.00 with a stop placed under the level. If the stock were to break below the support a short position could be entered instead.