Hims & Hers Health (HIMS) EW-Analysis
Historical buying chance for this stock.
Since 2022, Hims & Hers Health stock started its first bullish impulses within green wave 1 and green wave 2, initiating a long-term uptrend. Over time, the stock completed green wave 3, the corrective green wave 4, and the final bullish fractal within green wave 5.
With the completion of wave 5, the green cycle came to an end and began unfolding into yellow wave 1 of a higher-degree cycle. After marking a major all-time high at $72.98 within yellow wave 1, the stock fell rapidly into a long-term correction.
This correction is unfolding in three waves: orange wave A, orange wave B, and orange wave C. The entire correction completes yellow wave 2. Currently, we expect this correction to terminate within the next weeks, with orange wave C — and thereby yellow wave 2 — approaching completion.
After the completion of yellow wave 2, we expect the stock to regain strong emerging bullish momentum and rise to new all-time highs, reaching our Fibonacci price target zone and forming bullish yellow wave 3. This zone expands from:
161.8% at $127.27
200% at $154.09
261.8% at $197.49
These are our price targets for the upcoming bull market forming yellow wave 3.
However, before the bull market can start, we must identify the end of the current correction. For this reason, we have defined a Fibonacci retracement zone in which we expect the market to terminate its correction and regain strong bullish momentum.
This Fibonacci zone is currently activated, and prices are trading within our defined Fibonacci retracement area. The zone ranges from:
78.6% at $17.77
88.7% at $10.68
From our perspective, this zone represents a prime buying opportunity to initiate or accumulate positions at extremely discounted price levels. As long as the stock continues trading within this zone, the buying opportunity remains intact.
If the price leaves our Fibonacci zone, we expect the entire correction to be completed. Once the stock breaks out of the retracement zone and exceeds the local resistance level at $23.97, we can officially deactivate the Fibonacci zone and validate the early stages of our long-term bullish scenario.
Should any structural changes occur, or if Hims & Hers Health leaves our Fibonacci zone and thereby closes this historical buying opportunity, we will inform you immediately.
Kind regards,
Monalytics
DISCLAIMER: The content on this website, including charts, analyses, and recommendations, is for informational purposes only and does not constitute financial, investment, or professional advice. Trading and investing involve risk. You should consult a qualified financial advisor before making any investment decisions.
