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Todays Big Stock Wealthpop News

Hims & Hers Health (HIMS) Just Broke With A Major Trend


Despite the market ripping higher over the last week, we have managed to find one stock that lost its invitation in the mail. The chart for Hims & Hers Health (HIMS) had formed two major trend lines and the one it decide to break was that of the lower bound trendline. This break of the bottom trendline doesn’t necessarily lower prices are guaranteed, but what it does suggest is that the trend upward may have been broken, whether that is going to play out over a linger period or shorter is anyone’s guess.

However, for now, this suggests lower prices could follow especially as the market has run so hot, also suggesting a pullback could be in the cards. If the overall market cools off, even for just a day, this obscure stock could follow suit with an order of magnitude higher than that of a broader pullback.

This may not be a stock you are very used to trading, and indeed it is a new one for us as well, but this just goes to show how many opportunities there are in the market at any one time. A trap I often see my students falling into is if they don’t see A+ setups forming in the stocks the are most used to trading, it assumed there aren’t any in the market at all. This is simply not the case.

To be a successful trader, you need to be able to look elsewhere for setups that fit your trade criteria, if you are able to do this effectively, you will never know want in the market. Now, you may have stocks you are more comfortable with trading and that is perfectly understandable. The point here is simple, you are better served honing your skill of identifying A+ setups than you are at just studying one or a handful of stocks.

This is due to my belief that getting better at trading is more important than knowing one stock like the back of your hand. This will serve you better when your favorite stock is stuck in a consolidation or is not giving you a clear and obvious setup. If you can get better at identifying opportunities across the market, you now can confidently trade thousands of stocks, simply by looking at their charts.

Keep this in mind as you progress through your trading career. Watch the full video below for my full breakdown of today’s stock, Hims & Hers Health (HIMS).

Learn to find these levels for yourself when you join The Profit Machine. There, you’ll learn all about my favorite stocks, setups, strategies, and plenty more. You’ll also be invited to weekly webinars where I answer questions and go over important trading lessons, like the one in today’s article. The best part, you’ll also receive live trade alerts. Not only will you get a world-class education, but you’ll earn while you learn.

Get a jump start on your options education and put yourself in position to win in 2023. Sign up today! Until then…

Good Luck With Your Trading!

Christian Tharp, CMT

Christian Tharp

I am an expert stock market coach having helped over 4000 beginner and advanced traders & investors from around the world take control of their financial futures. I also write stock market related articles for the Adam Mesh Trading Group. My Chartered Market Technician (CMT) designation substantiates me as an expert in areas such as the technical analysis of stock trends, market indicators, cycles, price patterns, Elliot Wave principles, Candlestick charting, analyzing financial trends and behaviors, portfolio strategies, and forecasting future price movements. With my straightforward approach to simple, systematic trading, students learn how to strategically assess buy signals and market entry timing, establishment and management of stop losses, and how to employ a simple and disciplined trading approach that creates profits.

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