Telehealth company Hims & Hers Health ( HIMS) popped up on a screen for stocks in an uptrend. And while the name is new to me, it has been on Rev Shark's radar for a while, and I found it promising.
Let's take a close look.
In the daily bar chart of HIMS, below, I can see that share prices are in an uptrend the past year and have gone up four-fold from their May nadir around $3. HIMS trades above the rising 50-day moving average line and above the rising 200-day moving average line.
Trading volume has been increasing since the beginning of the year. The daily On-Balance-Volume (OBV) line has been going upwards since November. The Moving Average Convergence Divergence (MACD) oscillator has been above the zero line since November.
In the weekly Japanese candlestick chart of HIMS, below, I can see a great example of a saucer bottom pattern. The shares are trading above the rising 40-week moving average line.
The OBV line is bullish as is the MACD oscillator.
In this daily Point and Figure chart of HIMS, below, I can see a potential upside price target in the $15 area.
In this weekly Point and Figure chart of HIMS, below, I used a five-box reversal pattern, and it suggests a price target in the $23 area.
Bottom-line strategy: Traders who are long HIMS should continue to hold those positions. My price targets are $15 and $23 for now.
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The charts of the building materials supplier are firming up.
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