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Nu Skin Meets Our January 2014 Target At $46.83

|Includes:Nu Skin Enterprises Inc. (NUS)

On January 16, 2014 at 8:40am EST, we said the following of Nu Skin Enterprises (NYSE: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:

(click to enlarge)Click to enlarge

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.

Disclosure: The author has no positions in any stocks mentioned, but may initiate a long position in NUS over the next 72 hours.

Stocks: NUS