Actionable Stock Alert: HIMS
I thought I’d try something new and bring you an actionable stock from one of the trading tools I enjoy using. Let me know if you like it!
Today, it’s HIMS, a stock that’s bounced all over the place in recent months. But one tool that has successfully predicted most of those moves is Alex Reid’s Wave Indicator, which I love using (I haven’t been shy about that!)
And right now, it’s predicting another surge higher on HIMS based on a Call it printed yesterday:
I’ve nailed some big wins on MO and PG with the Wave Indicator before, and I haven’t been shy about telling you how much I love it (as I told Alex, it’s easy to put your full force behind a product you love and believe in so much!)
In this case, the momentum-based automatic price target is shooting for a move to ~ the $42 level.
If you want to get into that, the trade Alex would recommend would be a month-out call option.
So you’d be looking at the 25 April $42 Call currently priced at ~$2.68.
Looks to me like HIMS has made a higher low and could be heading higher again for the long term, so this feels like a really strong opportunity — but never risk more than you can afford to lose, and don’t just jump into a trade to get in.
But if you do jump in, good luck!
Uncertainty Still Reigns
You have to be careful in these markets…
I think we might have found a bottom, and traders like Graham and Nate agree with me.
But it’s a bit like walking on an icy sidewalk (or for my Florida friends, on a beach with loose sand)…
You really have to think about every footfall and make sure you’re placing your steps on solid ground.
I think it’s wise to stick with the advice from last week’s roundtable: switch your timeframes and focus either MUCH longer term or shorter term (i.e. 0D2E or 1D2E options)
That way, you either give yourself the time to be right (in the long term) or avoid volatility altogether by trading short-term trends.
There are plenty of opportunities out there — you just want to be smarter than ever about which ones you jump in on!
To your prosperity,
Stephen Ground
Editor-in-Chief, ProsperityPub
P.S.: One GREAT opportunity to focus on short-term setups is to learn what Roger’s been doing lately — which he’ll be sharing with Jack at 2:00 PM today! Join them here to learn Roger’s brand new 0D2E master strategy
