$HIMS
Added 2024-12-17 12:25:39 +0000 UTCYesterday we were looking for a hold of the 0.38 Fib support level at $28.57 for support, this was the 3rd time this level was tested since the 11th of December.
Price dropped -4% at the opening and immediately bounced and finished the day up +4% and the price made its way back up to the 50 MA on the 1hr chart and the 0.236 Fib to end the session.
We can see that the 50 MA on the 1hr chart was a resistance level on the 12th, so I shared yesterday in the chat group that I wanted to see this level tested and flipped to support
Price is up +2% in the PM now after Morgan Stanley gave an outperform rating with a PT of $42 for $HIMS this morning....substantially different to that of BofA at $18.
Price is now above the 50 MA so flipping this level to support today is the very least I need to see and over the next few sessions and then I believe this can drift back up to the $35 level again and go further.
We have bought enough now in this Wave 4 pull back, so I am happy we took advantage.
