Saad Ullah
⬤ Hims & Hers Health Inc. (HIMS) shares are showing signs of life after taking a hit, holding steady around the $30 mark. Buyers keep stepping in to defend this level, hinting that the stock might be trying to find its footing. The chart shows multiple price bounces in this zone, suggesting the downward momentum could be losing steam.
⬤ Looking at the technicals, HIMS has pulled back to the 0.618 Fibonacci retracement level—a spot traders often watch for potential reversals. The stock's been hanging above this key line while consolidating near $30 support. There's also a clear invalidation point marked below $23, which would signal the current structure has broken down if breached.
⬤ Volume tells an interesting story here. During the recent selloff, trading activity has actually been dropping off, which usually means sellers aren't that committed anymore. This lighter volume contrasts with earlier stages of the decline and suggests we might be seeing consolidation rather than continued selling. Despite the recent correction, the bigger picture still shows a longer-term uptrend intact.
⬤ This matters because HIMS has been a hot growth stock that a lot of traders are watching. If it can hold this $30 zone, it could boost confidence across similar names. But if it breaks below support, attention will shift to lower price targets. Right now, HIMS is sitting at a make-or-break level that could give important clues about where the broader market's headed next.
Saad Ullah
