The Long Investor

$HIMS

Added 2024-11-20 12:12:43 +0000 UTC

$HIMS continued to rally into the close yesterday and finished up +12% for the day at $23.53....and to think we started this week at $19.22.

The most important aspect for me yesterday was what happened at the opening

The price immediately dropped to the 0.618 Fib again at $20, giving us a 3 wave pull back, holding at the perfect subwave 2 level and then immediately bouncing and jumped +17% from there.....another classic stop loss raid into liquidity on an important support level and took off

The strength showed yesterday and these actions are telling me that this is not retail but one or more institutions that want $HIMS, retail does not behave like this, they are more gradual.

The next test is the 50 MA above at $24.15, since we had no issue converting the 200 MA to support yesterday.

We still need to be vigilant of a rejection at the $25.41 level too as a potential Wave B rejection but for now, I am continue to be happy and have no concern to see a retest of the 200 MA today or tomorrow either.

$HIMS is my largest position and to see it move up about +20% in 2 days is a good sight.