The Long Investor
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$HIMS
🕑 Added 2025-04-29 19:17:41 +0000 UTCOK second update today.
On the chart shared this morning, we were seeing that a strong move was about to come because the price action was getting squeezed into a tight range and when this happens a direction must be taken, naturally we wanted this to be to the upside but I was expecting this move to happen due to the earnings....but instead we got this fantastic news today with partnering with $NVO.
Not only did the strong move come and we bounced initially +45% and got a clear and aggressive breakout, we also can now throw the bear thesis in the bin.
The Bears argued that $NVO and $LLY would sue $HIMS and take more market share....but $NVO did the right thing, instead of competing, they have decided to use $HIMS as a distribution centre.
So how does this look on the chart?
Price bounced at the open to exactly the 1.618 Fib at $38 and then pulled back to the amber support levels, it was fast and difficult to see on the 1hr chart here but if we get a higher high next then the price action can keep moving to the 2.618 Fib at $44 to complete Subwave 5.
After this we can expect an ABC correction.
I am happy to see that the strength stayed for the day but I would also like to see this hold tomorrow too and not give back the gains....because there is a large gap now between $33 and $28.
Big picture:
Bullish partnership
Bullish breakout (that we were expecting)
Bullish impulse wave forming
We took advantage of the pull back numerous times
We executed to a high standard
We kept to our strategy
And the price action respected the support levels clearly.
A lot of lessons can be taken from this chart and with $HIMS over the last year
And well done to everyone who stayed the course.
Let's continue to gain on $HIMS.
Comments
Georgette
Is there a link or resource I can read regarding upcoming earnings, please? Appreciate it!
Zachary Alpirn
to my understanding, the $44 level (subwave 5) would be the end of the new impulse wave 1 after the abc correction, and the next abc correction when we hit $44 would be wave 2, and then a new wave 3 would take us back to ATHs.
Rob
Cap is this correct? There are five waves. Wave 1,3 and 5 have 5 sub waves and 5 initial waves ??? And wave 2 and 4 have 3 sub waves and 3 initial waves ??
