The Long Investor

$HIMS - BEAR CASE SCENARIO -

Added 2024-11-18 11:16:59 +0000 UTC

This is not the regular chart I upload for $HIMS but I am looking at both scenarios so we are not blind sided here, the regular chart is the Bullish scenario and rightly so because their earnings, growth and chart remain bullish to me

That being said, I believe shorters really needed this to come down as they were caught and so far their plan has worked, $HIMS is up in the PM either way now.

This count suggest that Wave 5 completed at $30, this is a possibility, the count is valid and follows the rules of EWT, Wave 4 did not overlap Wave 1.

So I have added the white fib levels from the bottom blue line and to the top at $30 for Wave 5.

We can see that the price held the 50 Day MA which was also the 0.38 Fib, which we know is common for Wave A to complete at.

So for both Bull and Bear scenarios, I see a bounce next, this is the most important part.

If Wave B in this case bounces to the $25.41 level (blue line) and rejects, then we may have to concede that Wave C is next

Holding above the blue line and the bull case is in play and we are back on track.

So like $AMZN and $GOOG when we added after the sharp decline in August, both scenarios meant it would bounce next....$AMZN made a new ATH and $GOOG rejected at the Wave B level....so this is the same set up now.

I am holding and watching to see if $HIMS rejects, either way, it is due a positive bounce now.