There’s no doubt that HIMS is a strong growth stock but it’s largely dependent on the GLP-1 shortages. I had previously warned that the shortage ending would cause a huge dump on the stock. I was slightly ahead of the curve, the shortage remained for another quarter and the price pumped higher.
Alas, here we are and the shortages have come back. Personally I’m not looking to trade the stock but I’ve been asked about potential areas of support for ‘buy the dippers’.
My opinion on the matter is if we don’t get a bullish bounce around $37, this will sink to $30 which is the golden ratio retracement. But I will warn you that this drop is strong and you should only DCA if you believe this business can maintain its growth without the GLP-1 product. I view the stock as peaking in a wave 5 and therefore we should get an ABC corrective wave.
Not financial advice, do what’s best for you.
Alas, here we are and the shortages have come back. Personally I’m not looking to trade the stock but I’ve been asked about potential areas of support for ‘buy the dippers’.
My opinion on the matter is if we don’t get a bullish bounce around $37, this will sink to $30 which is the golden ratio retracement. But I will warn you that this drop is strong and you should only DCA if you believe this business can maintain its growth without the GLP-1 product. I view the stock as peaking in a wave 5 and therefore we should get an ABC corrective wave.
Not financial advice, do what’s best for you.
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Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.