Tough Charts for Hansen Natural

Hansen Natural Corp. (HANS) was a hot topic on "Mad Money" last night, with different views coming from across the technical spectrum. This is a tough chart because even as it looks toppy, a break over $98 will put the bulls into action; however, I live on the side of toppy. The daily chart shows a slight divergence with the RSI while the buy areas on the stochastics appear as the stock becomes oversold. Price has been rejected at $98, forming a multiple top, and we appear headed towards the $90 level to test rising support. HANS has a tendency to overshoot its trading channel, so moves past the blue lines to the brown lines are possible on a very short-term basis.

Hansen Natural Corp. (HANS) -- Daily Source: StockCharts.com View Chart » Hansen Natural Corp. (HANS) -- Weekly Source: StockCharts.com View Chart »

The weekly chart for HANS is a concern. The RSI is in a downward channel demonstrating a large bearish divergence to price. The TRIX has rolled over into a bearish pattern, which does a good job of indicating the short-term pattern that has formed, as well as the long-term bearish megaphone pattern. Again, only a break over $98 will invalidate the current bearish patterns. A drop under $89 will trigger aggressive selling on both the daily and the weekly charts....171 more words left in this article. To read them, just click below and try Real Money FREE for 14 days.

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