The Long Investor

$HIMS

Added 2024-11-26 10:24:59 +0000 UTC

Big day for $HIMS and US yesterday.

We needed to see a big statement from the Bulls yesterday to get through the $25.41 level and it was the best possible response we could have asked for

We felt hard done by after the price drop from $30 to $19 and after a strong earnings, this was not the adequate response....using EWT we were able to take advantage of the sweet spot....whereby even if it was a bull or bear case, it needed to bounce up to the important support/resistance level to test

This is the third time since August ($AMZN & $GOOG) that has allowed us to take advantage of this sweet spot and benefit greatly.

I can assure you it feels great when your largest position jumps +50% in a single week and all we needed to do was trust the strategy, have a plan and take advantage.....it sounds easy but the emotional toll it can take is never easy.

$34 is the Wave 3 level I am focused on but we may get a pull back today because of the strong move yesterday, the only obvious test is the 1.618 Fib at $28.58....or the $25.41.

This is likely subwave 3 to subwave 4 of Wave 3 now, so a small pull back is needed before this can go to $34.

I am not playing the waves, I am holding to $34 and will likely trim -20% as always at Wave 3, to add back again at the Wave 4 level.