The Long Investor
patreon
$HIMS
🕑 Added 2025-05-02 09:27:19 +0000 UTC$HIMS comfortably held above the 50 Day MA at $25.90 yesterday to close out the session, something we wanted to see happen to show its strength.
We have a clear bounce now on the 0.5 Amber Fib at $31.64 and the price action is reaching for the 1.618 Fib again at $38.08.
We want a higher high next to confirm that the price action is moving to our Wave 5 target at $44.81.
On this 1hr chart above, we have a golden cross between the 50 and 200 MA's, confirming the bullish trend.
Right now, $HIMS is above all important moving averages as we lead into earnings on Monday, where we expect a positive beat.
Comments
Chris H
Can’t tell. Depends on the price action. Gotta wait for a rejection to tell. Couldn’t tell the last time either. It just kept running and I exited too early at the price target.
Chris H
Higher high achieve. Locked in to wave 5 target at 44
Boons
The wave 5 target would be the target for subwave 1 .
DCB
I don't know exactly how to ask this question, but I'll do my best. I know I'm missing something. It's an Elliot wave question (I'm studying). On this chart wave 1 is on the left (~72), then corrective ABC to wave 2. Then i-v, but wouldn't v be wave 3 which is shorter than wave 1, which cannot be. What am I missing? I understand your write up and where I'm suppose to be paying attention. I just cannot wrap my brain around the chart.
Kaif Dosani
Update here based on today’s move?
Karl
Would we be likely to get a short squeeze at the 2.618 fib similar to the wave 5 of previous when it surpassed $45 to hit $72 or is it likely to keep more structured at $44?
