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HIMS Post-Earnings Update-- Opportunity Knocks?: Monday morning, ahead of Earnings, this was my final comment about the technical setup heading into the after-market report:HIMS also reports Earnings after today's close. The fact that it is going into Earnings below its 7/30/26 prior significant low of 24.24 is a very negative position that warns us that HIMS had better knock the cover off the ball in a blemish-free report and conference call to avert 20-21-- the next important support plateau from where a meaningful upside reversal and sustainable rally might emerge.
Today, the market moved slightly lower, but the overall market action remains quite messy, and we still do not have a clean five-wave move in either direction. The lack of a clear five-wave move to the downside is putting a bit more weight on the green count, but the less-than-ideal five-wave move off of the 11/6 low is still far from ideal.
Recently, we had reason to watch for a possible bounce in the SPX after some pretty negative price action the week before. We had key symmetry price support in the 7341-7363 area, and the actual low was made directly in the zone at 7350 on November 5. What followed was a healthy rally of 302.41 so far from that support. On our daily chart we also had some timing for a possible bounce at the actual low.Note, however, that we are currently at some very important resistance on the way up on this weekly chart.
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