The Long Investor
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$HIMS
🕑 Added 2025-03-06 21:02:25 +0000 UTC$HIMS has lost the important $36 level today after a double catalyst blow and Wall St jumping on the news with lower PT's, they managed to get their way at least in the short term and have been able to drag this down.
Worst case scenario for us is that this pull back from $72 is an ABC correction and this is looking like it is confirmed now with a very shallow Wave B, only bouncing to the 0.236 Fib at $45.
The good news:
The ABC correction is nearly complete.
It may not feel like great news but for me, $HIMS was a hold regardless and we have a very strong pull back now with 90% of all shares now held by institutions.
So very little volume could turn this around once support is found.
If there is a strong rebound tomorrow then Wave B could still be in play to a higher amber level but I think preparing yourself for the 0.618 Fib test at $29 is the right way to approach this now.
I will have no problem adding again once support is held.
The fundamentals have not changed, $HIMS management need to do what they've said they'll do and this can recover with no issues.
Comments
Steve . S
I re-entered at the 50’s before earnings; we don’t have a crystal ball. When it’s 90 odd later in the year we won’t feel so stupid.
Chris Olner
In a few years it won’t be 👍🏻
Chris H
Waiting for support confirmation here
Chris H
Same
Adam R
Feel a bit stupid adding in the 50s range
ray
Wouldnt wave 4 infringe on wave 1 causing the impulse to be invalid?
Dean Eyec
Would another possible scenario, which I think you have alluded to, is that we in an extended A wave, and so the B wave is yet to play out?
Thane
What does little volume mean to turn this around?
Karim Sultan
Short term pain, long term gain 🙏🏼
