$HIMS Down 60% Buyers Yet to Show Monthly BX Signals No Entry

PeterDiCarlo
04-07

We turned bearish on $Hims & Hers Health Inc.(HIMS)$ in October.

The stock is down 60% since then. 🩸

Sellers are still in control and I am still not buying.

Here is why.

Price is sitting right on the monthly fair value band.

That is long term support from an institutional standpoint and normally a level worth paying attention to. But support is not a signal.

Buyers showing up is the signal.

The monthly BX is not showing that yet. Until it does, I am not touching this.

I know the temptation here. The stock is down 60% and sitting on a key level. It feels like the bottom.

That feeling is exactly what gets people into trouble.

We do not buy discounts. We buy strength.

Will I miss the perfect bottom? Yes. Every time.

That is fine. I would rather buy $HIMS at a higher price with real buying pressure behind it than catch a falling stock at the low and spend the next six months underwater.

When the monthly BX turns and buyers come back into this, I will say something.

Until then, patience is the position.

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