HIMS trade ideas
HIMS & HERS Short Before NEW HIGHSGood day traders, I am seeking a short term reversal to close the gap. Once the new low is set, will be looking into loading around the $4.62 area. Remember, entry is everything. Once new low is set, target is set to $13.36.
Hope you enjoy this setup, Happy Trading & BE BLESSED!
HIMS, 3/1-3/8, 9.5% profitOn 2/26/2024, Hims & Hers Health (HIMS) reported earnings of $0.01 per share on revenue of $246.62 million for the fourth quarter ended December 2023. The consensus estimate was a loss of $0.02 per share on revenue of $245.82 million.
HIMS Hims & Hers Health Options Ahead of EarningsAnalyzing the options chain and the chart patterns of HIMS Hims & Hers Health prior to the earnings report this week,
I would consider purchasing the 9usd strike price Calls with
an expiration date of 2024-3-15,
for a premium of approximately $1.12.
If these options prove to be profitable prior to the earnings release, I would sell at least half of them.
RiskMastery's Breakout Stocks - HIMS EditionWelcome to RiskMastery's Breakout Stocks - Stocks with breakout potential.
In this edition, we'll be looking at NYSE:HIMS ...
I believe this code is at a point of potential volatility.
If price can hold above $10.05 ... Bullish potential may be unlocked.
My key upside targets include:
- $11.24 (Conservative)
- $12.47 (Medium)
- $14.59 (Aggressive)
If however price falls below $8.19 ... Bearish risk potential may be unlocked.
(My key risk targets - C, M,& A - are as noted on the chart)
Enjoy, and I look forward to being of further service into the future.
If you'd like to connect, feel free to reach out and comment below.
Mr RM | Risk Mastery
Disclaimer:
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$HIMS - Which is it?NYSE:HIMS reached the wedge breakout target and is currently consolidating between the 50% and 38.2% Fib retracement levels.
There is an inverse head and shoulders (IHS) forming, and the neckline happens to be the Point of Control (POC) volume resistance + 50% Fib retracement.
It needs a successful breakout above $9.50 for the IHS to validate.
However, there is also a mini Head and Shoulders forming. If materialized, it could lead to a fall to the $6 handle. So carefully watch the $8 area; if the price breaks below $8, the pattern will invalidate, and the stock could fall to the $7 - $6 area. So be aware of the risk.
Upside targets:
$9.50
$11.50
Downside risks:
$7 to $6
HIMS - Gorgeous set upIncredible symmetry is unmistakable. IMO, this is at least testing the trendline. How it holds there would decide eventual break out this pattern. Would be a good spot for the long investors.
Update on HIMs GAPThis Hims GAP play has worked out very well with some washouts that I had to hold through. You can see my entry with the dotted green line which I normally do for transparency. My entrance was after the confirmation of the breakout on that medium term downtrend (purple line) HIMs did have some issues in the meantime but the 8$ strike worked out great. I got all of the extrinsic value which is now intrinsic. My first price target was hit and the gap is almost completely closed. If you traded this same setup I hope you are mostly exited as Dec 15th ended calls are coming up. I like to sell calls 2-3 weeks before expiration so theta decay doesnt kill my gains. I generally buy 45-60 day out calls for this reason if I am going naked without cover.
Small bull flag on himsSmall caps accelerated on the CPI print as they had been lagging for months and were very oversold. As Hims fundamentals increase investors are catching on, TA wise the stock has taken two important levels this month and we have a half month to go. If this flag breaks to the upside we will see my first sell target that is the dashed green. Breaking the gold .382 is invalidation for shorter term calls. I am in dec 15th 8$ calls currently my entry marked by dotted green. RSI and HV continue to climb. We passed the .5 fib with conviction and are testing the .618 right now.
Hims breakout to gapHims required some patience but I did average into the call setup and finally the teal line is broken and looking to be confirmed on the 4 hour. My first target is 8.14$. HV is barely moving so we have a little time here.
Hims breakout on 4 hour, will it break daily?This is a shorter term play that I have entered both in spot and in some calls for dec. 15th, the earnings report was good yesterday and the stock is showing strength. The breakout is confirmed on a 4 hour but I would like to see it on the daily as well. The local demand is small. This is the first double attempt at 20 SMA in a while as well. RSI is on a clear uptrend.The dotted green was my entry point yesterday. I expect this stock to rip at open and I have a GTC sell on spot at 9.2$. The calls I will play it by ear with stock alerts.
Hims breaks resistance into earningsHIMs broke a medium term resistance into earnings which is aftermarket today. I am looking at a call setup for that 22% GAP that is marked. The RSI reversal is strong and the company tends to beat on earnings. The ceo has promised that they will slow growth to reach towards profitability in the near future as well.
$HIMS - ER next week MondayNYSE:HIMS bounced from $5.60 area. The measured move for the upside is $8.50. ER is next week Monday. It will determine $5.40 or $7.00.
Resistance levels to watch:
$6.50 to $6.70
$7
$8.50
Support levels below:
$5.40
$4.70
No position.
$HIMS - Can the price stabilize around $6?NYSE:HIMS is currently trading around $6.27, which is around a Fibonacci support level. If $6 breaks, there is a chance that it might fill the gap at $4.70 or close to it.
Overhead resistance areas:
$7 to $7.48
$8.50 to $9.00
$10
Support areas below:
$6
$5.40
$4.70
$HIMS - Watch out belowNYSE:HIMS - the recent double beat and guidance raise has not helped out this stock. There is a gap fill dating back to November of 2022 with hardly any strong support zones in sight. The death cross which just occurred should add further downward pressure to this already beaten up stock. I will turn long on NYSE:HIMS once the first level of support is reached (around $6.20). I will add on the way down as the stock approaches the gap fill. The increased guidance and double beat proves this may be a long-term winner, however, in the short-term there is more room to fall.
Short Trade in HIMSThis is a potential short trade that could deliver a nice gain if the market pulls back. I am still focused on buying opportunities, but it never hurts to be prepared for the other side.
Some of you may remember this as a stock I was looking to buy a couple months ago.
Often times, the best short ideas come from stocks on my long watchlist that fail.
HIMS tripled from October to April but began rolling over after a poor earnings report at the beginning of May.
Not only did the stock fall on above-average volume, but even a 33% discount has failed to attract buyers. When stocks pull back, they either act as tennis balls (bounce back quickly) or eggs (splat and fail to rally).
Buy tennis balls. Sell eggs.
HIMS has formed a support shelf near the $8 level. A move below that would trigger a lot of stops, making it an ideal place to sell the stock short.
HIMS second chance to buyNYSE:HIMS Retraced significantly and now showing a 2nd chance to buy. It was in our Stage Analysis top picks.
HIMS is going to resume its uptrendNYSE:HIMS is about to resume it's uptrend
HIMS broke out from stage 1 to stage 2 and ran from $7 to $12 in couple of months, since than it retraced, but seems to close the week very strong.
Look for 30% upside from here
Breakout Trade in HIMSHIMS 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 resistance previously, so the move below this level last month likely took out a lot of investors.
Shares have consolidated in a tight range on low volume for the last two weeks. This is likely support buying as longer-term investors build or add to their positions.
I want to see a move above the support/resistance line at 9.50. A move above that price would be my buy trigger. My stop loss would be at 8.70 to risk 8% on the trade.
Roadmap for HIMSBlue solid lines are established downtrends, green dotted lines are established uptrends. Both the uptrend and downtrend lines are established from equilibrium points, (not highs and lows). Thickness of lines illustrates strength of previous price action. Circles are the crossing of uptrend and downtrend (Crossfire Points), usually resulting in reactions.
Watchlist 2023-05-09 $SPY $LITE $HIMS $FHN $CVNA$GOLD $PLTR $TSNAMEX:SPY - losing a few points in the PM after an inside day that was fairly muted yesterday.
Key inflection today at 412 if we reject this level and/or stay below it, shorts will likely be in control for the morning session. Hard to predict what the after noon will look like without the morning price action, we’ve seen a handful of days were it reverses completely. In those situation where you are unsure if price action will continue, first look for a higher high on the 5 min. Then see how price moves away, If it is a shallow sequential pullback with a wick off the bottom, that is a good indication of a price action shift.
No major bias today, we could likely see another mutes session as investors wait for tomorrows CPI data.
For further confirmation of a trend day, watch for:
USI:ADD pinned near +\-2000
USI:VOLD ratio over +/- 3
USI:TICK cumulating past 0 wicking to +/-900
NASDAQ:LITE - Fiscal Q3 Non-GAAP Earnings, Revenue Decline; Issues Downbeat Fiscal Q4 Outlook. Lite has been posting positing earnings for the last 5 Qs yet still on a strong trending decline. This negative earnings and guidance could be the one sending it on a capitulation trade. Gapping below the montly pivot of 45, room to 40.50. Just needs a little more RVOL to bring it closer to 2 for a great trade setup.
Watching this closely on the open for weakness.
NASDAQ:ZS - potential for a day 2 fade after and immense gad up that rejected the key 110 pivot high. The inflection is about 107.50 and support is 107. If we get below there early, looking for a short, target 104.
NYSE:HIMS - the wellness company behind the online telehealth and prescription platforms Hims and Hers -- on Monday reported a bigger per-share loss than expected for its first quarter, but raised its full-year sales forecast. This is interesting as the chart looks bearish, gapping down off 52 week highs from a multi date range and pivot high resistance at 12.20. long erm chart looks very bullish as investors were likely anticipating a better quarter. However, the news of raising 2023 revenue is startling that the reaction is negative. Keeping this on watchlist as it has a big opportunity to flush but also a get chance to bounce off the 10.00 support as investors flock to the guidance raise.
NYSE:FHN - yesterday's gap up and fade looked like the end of this short term corrective rally. Gapping below yesterday inflection of 10.80 is key, if we stay below looking for 10.30 as a first target, then 10. 00.
Other Watches
NYSE:CVNA - over 11.20 PD high
TVC:GOLD over 20.00
NYSE:TSN
NYSE:PLTR - over 9.00
$HIMS and Hers time to make some Magic - Long/CallTelehealth is the future. This company is on the non-controversial side of medicine for the most part. I continue to expect them to out perform. After earnings report we could see a nice gap or a pop of this ceiling it keeps tapping on here. Let's go!
Long Trade in HIMSHIMS has been a market-leading stock for several months. It has tripled since October and is now consolidating at all-time highs before its earnings announcement.
The company is scheduled to report after market close on Monday, 5/9.
If I were a gambler, my bet would be that they beat and surge higher. Personally, I’m not willing to risk it which is why I recently covered my position in HIMS for a quick profit.
But if Monday’s numbers are good, I will consider buying back in on Tuesday morning.
