Hims & Hers has ended its extended corrective phase. We expect this stock to follow its long-term uptrend and to be at the beginning of a massive breakout.
This stock has formed a 1-2 setup, shown in blue and white. This structural setup is generally a strong indicator of a massive long-term breakout. We expect that Hims & Hers has ended its short-term correction and is now forming a setup to follow the uptrend. This expectation will be validated as soon as the stock breaks above $39.05.
While we assign our primary expectation a high probability of occurring, we still keep our alternative secondary scenario on the chart. This scenario clearly shows that the correction is not yet complete, and that the stock will fall one last time into our predefined Fibonacci retracement zone.
Alternative long entry levels:
- 61.8% at $23.66
- 78.6% at $21.43
- 88.7% at $20.09
This alternative scenario would open up prime price levels to buy this stock for the long term. However this stock moves, we will update you immediately if anything changes.
Kind regards,
Monalytics
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