The Long Investor

$HIMS

Added 2024-09-12 10:27:40 +0000 UTC

Jumping from $13.50 to $15.50 since the 6th of Sept has been a very welcomed development

We had prepared ourselves for a flush down to the 0.618 Fib at $11.50 as the worst case scenario, which would still be the standard pull back level for an ABC correction

But the confluence level around $14.22 has proved to be like a magnet and quite strong, pulling the price above all levels now.

I would like to say now that the worst is behind us but lets give this a few more sessions and a retest of either the trend line or the 200 Day MA to confirm that this level is the new support level.

I am not adding $HIMS right now because I have a lot and would be more than 10% of my portfolio if I add again, so I am comfortable right now

But those keen to add should consider so when a new support level is confirmed, I'll continue to upload this most days.

RSI has clearly bounced away from the 30 level and the MACD indicator is showing the start of a bullish trend.