Don't Hold a Bag, HIMSHello I am the Cafe Trader.
Today we’re looking again at the hyped HIMS (Hims & Hers Health).
This is a wide range, make sure you get good pricing if you add to the long term.
Price is currently sitting right above Strong Buyers These buyers are holding, and the shorts may be exhausting having to cover soon. So I have provided a trade idea to finesse this action.
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Green Scenario
If buyers continue to hold this demand, I expect a push into the Bottom of Supply around 52. That’s the first stop, and a strong reaction there would tell us whether Sellers are really active, or buyers are ready to push into the higher supply zones. The more aggressive case would be continuation all the way into the Extreme Supply area closer to 65–68.
Long Term
Aggressive: 44–45 (Strong Buyers, current zone)
Extreme Value: 26 (Extreme Demand — if buyers completely lose control, this is where I’d expect institutions to step in).
For now, HIMS looks bullish off this demand, but keep in mind that if we do lose this box and rotate down, it could open up a move all the way into the 26 range. so If we close end of week below the strong buyers, don't be afraid to trim your position, and reload at. a better price. Don't be a bag holder.
Happy Trading,
@thecafetrader
