The Long Investor
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$HIMS
🕑 Added 2025-02-26 20:36:09 +0000 UTCSome may feel hard done by after a +11% gain earlier in the day and giving all that up but we need to remember that the bounce started yesterday on the $36.14 level on the 0.618 Fib level, a level we spoke about hitting yesterday before the opening.
Price has now clearly bounced on the $36 level and went as high at $44.62 today, for a +22% jump, a very strong and positive reaction on the reliable 0.618 Fib
And now we have the pull back, so I have added in the white small fib levels, with the 0.5 - 0.618 Fib levels being the target support levels between $39 - $40.
So far we have a test of support in this range now for a higher low, we want to see this range held tomorrow and the next day, once we find support then I expect a rebound to the upside again.
If you haven't read yesterday's long commentary on $HIMS then I suggest you take a look at this, it goes into detail about the Wave B possibility next and the Wave 5 possibility next.....either scenario means a bounce from here and so far this is what we have been getting.
So let's stick with this and let the price action do its job.
Comments
Dipen Patel
Previous chart upload, not in the chats.
Space Bar
Hi Cap! I scanned through the chats but didn’t find the commentary you’re referring to
Kad
Well, now I read the details from yesterday’s commentary in full detail and all clear to me. Yet first time for me to see a wave 4 coming to 0.618 Fib
Gareth Neary
Breaking above the amber range would be bullish, at least for a retest of the ATH level again.....a 100% bounce from the $36 hold
Gareth Neary
It's not common but can only become invalidated upon infringing upon Wave 1.....I have a Lesson on this, in the EWT course.
Kad
Cap, maybe a lesson here for many of us: can a Wave 4 come so much down to 0.618 Fib level ?
Luke Foster
Thanks for the continued guidance Cap- will we not be sure we are in wave 5 until we get a higher high above $60 - which would invalidate an ABC correction ? Or is there something we can look for on the way to potentially support a wave 5 theory over an ABC correction ?
Gareth Neary
Smart guy
sahilpreet Singh
As some guy on X said, higher low is more important than the initial bounce❤️
