Will Amazon Bury Hims Stock or Should You Buy the Dip?

The company Hims & Hers Health (HIMS) had a good thing going. The multi-specialty telehealth platform provided an easy way for people to get access to pills that treat symptoms like ED and male pattern baldness. It provided an alternative to traditional medical care, offering a cheaper solution to an in-demand product. At the surface, it’s a wonderful idea and a great business that created 68% revenue growth forecasts for this year and 40% for next year.The business model was so good that it caught the attention of internet giant Amazon (AMZN). Amazon’s One Medical telehealth service is adding a new option that will put it in direct competition with Hims & Hers. That sent HIMS down from over $30 to a low of $19.15 last Friday. Two days of a rally have the stock over $23, trying to get to the top of the Thursday gap at $25.45.Moving Averages: Bartosiak starts by examining the stock's moving averages, such as the 50-day and 200-day moving averages. He points out the significance of crossovers and divergences between these averages, which can indicate potential trend changes.Support and Resistance Levels: Bartosiak identifies key support and resistance levels on the chart. These levels act as barriers that the stock price must breach or hold above, providing traders with critical decision points.Chart Patterns: He discusses chart patterns like head and shoulders, cup and handle, or flags, and their relevance in predicting future price movements. These patterns can offer valuable insights into potential bullish or bearish trends.Volume Analysis: He emphasizes the importance of volume analysis in confirming price trends. An increase in trading volume during a breakout or breakdown can validate the significance of a price move.Dave Bartosiak's technical analysis approach adds depth to our understanding Hims & Her’s stock chart. By paying attention to moving averages, support and resistance levels, chart patterns, technical indicators, and volume, he equips investors with a comprehensive toolkit for making well-informed decisions in the stock market. Remember, while technical analysis is a valuable tool, it's important to consider other factors like fundamental analysis and market sentiment before making investment choices.Zacks' Research Chief Names "Stock Most Likely to Double"Our team of experts has just released the 5 stocks with the greatest probability of gaining +100% or more in the coming months. Of those 5, Director of Research Sheraz Mian highlights the one stock set to climb highest.This top pick is among the most innovative financial firms. With a fast-growing customer base (already 50+ million) and a diverse set of cutting edge solutions, this stock is poised for big gains. Of course, all our elite picks aren’t winners but this one could far surpass earlier Zacks’ Stocks Set to Double like Nano-X Imaging which shot up +129.6% in little more than 9 months.Free: See Our Top Stock And 4 Runners UpWant the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report Amazon.com, Inc. (AMZN): Free Stock Analysis Report Hims & Hers Health, Inc. (HIMS): Free Stock Analysis ReportTo read this article on Zacks.com click here.Zacks Investment ResearchWeiter zum vollständigen Artikel bei Zacks Weiter zum vollständigen Artikel bei Zacks