Hain Celestial (NASDAQ:HAIN) is a natural-, specialty- and snack-food company. Its stock price may be ready to reach for the stars. After making a high in August 2015, the stock started lower with the market. But unlike many stocks, it did not stop and rebound into the end of the year. It just kept falling through the middle of January.
It finally found some support and consolidated over 33, 54% lower. That was more like crashing to Earth. But since February 11 it has started to round higher. It made a higher high on the 17th and then a higher low the 24th. Now it is making another higher high. The momentum indicators are rising, with the RSI moving into the bullish zone and the MACD above zero.
The stock moved over its 50-day SMA for the first time since August last week and is now closing in on the 100-day SMA. Notice as well that the Bollinger Bands® are opening to the upside. Using 36.50 as a stop loss, this stock might be a great way to reach for the stars if it can get over 40. A minor 38.2% retracement would yield a 18.7% return and if it gets really strong, that 61.8% retracement would yield over 40%.