HIMS is another high growth name. Sales have nearly doubled in each of the last four quarters and losses are steadily declining. HIMS stock got overcooked after rising 195% between October and May, triggering a 30% retracement. This stock also has an “undercut & rally” setup forming. Note the dashed line on the chart above. This was a significant area of...
just triggered .... lets see how this develops. short is held below low of today ... based on UC&R pricinples by GILMO (Gil Morales).
What i see on this chart is behaviour very similar to GILMO's UC&R setup. Price dipped below Dec 4th minimum and reversed. Nicely visible on 1h chart. It also coincides with the 200SMA - making it bullish. As always - trade safely!
With EVTC i see two buy signals - both based on the teachings of my masters - M. Minervini and G. Morales. First we see a VCP over the last few days (it was also on a short list from our VCPSniper). What is interesting when you look at in details is that we see a 'shakeout' (following MM rules of VCP) that for aggresive traders can be taken as UC&R (undercut and...
Bought on the close as CHPT closed above the $20 level after a >30% decline. The stock also undercut its lows on the week before rebounding quickly. Looking for a rip off this $20 level as it has done in the past. Will look to take some off at the 100-day & 200-day moving averages if we do get the pop. Very tight stop loss, just under today (FRI 12/10) lows.
AMD undercut important lows and reversed back into its range. Tech & Semiconductors have been weak and beaten down for a while, so a short term bounce is not out of the question. In @ $77.00 Stop @ $72.10 2:1 Target at $86.90