The Long Investor

$HIMS

Added 2025-04-29 19:17:41 +0000 UTC

OK 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.