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Byline: Craig Shaw
Nu Skin Enterprises appears to be in the third leg of an ascending base. Rarer than cup-with-handle or double-bottom patterns, ascending bases feature three pullbacks from 10% to 20%, with each low point higher than the earlier trough. The stock declined 9.6% in its first leg down, a bit shallower than normal.
The personal care products maker grew profit 41% in the fourth quarter. Its Accumulation/Distribution Rating of A+ shows strong buying by mutual funds the past 13 weeks.
The Cosmetics/Personal Care group surged from No. 70 to No. 6 among IBD's 197 industries the past eight weeks. ...