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