HIMS Short Trade Setup (30-Min Chart)!

🔻 📉

🔍 Stock: HIMS (NYSE)
⏳ Timeframe: 30-Min Chart
📉 Setup Type: Bearish Breakdown
📍 Trade Plan:
✅ Entry Zone: Below $40.66 (Breakdown confirmation from ascending support)
🚀 Take Profit 1 (TP1): $38.25 (First Key Support)
🚀 Take Profit 2 (TP2): $34.70 (Extended Target if selling pressure continues)
🔻 Stop-Loss (SL): $42.88 (Above resistance to limit risk)
📊 Risk-Reward Ratio: Favorable for a bearish continuation 📉📈
🔹 Technical Analysis & Setup:
✅ Pattern: Rising Wedge Breakdown 📈 → 📉
✅ Resistance Zone: Strong seller presence around $40.66 - $42.88
✅ Breakdown Confirmation Needed: Price should drop below $40.66 with strong volume
✅ Momentum Shift Expected: Breakdown signals a potential downtrend

🔥 Trade Strategy & Refinements:
📊 Volume Confirmation: Look for increased selling volume below $40.66 📉
📉 Trailing Stop Strategy: Once price reaches TP1 ($38.25), adjust SL lower to secure profits
💰 Partial Profit Booking: Take partial profits at $38.25 and let the rest ride toward $34.70+
⚠️ Watch for Fake Breakdowns: If price rises back above $41.50, reconsider the setup
🚀 Final Thoughts:
✅ Bearish Breakdown Expected – High probability of continuation lower 📉
✅ Strong Resistance at $40.66 - $42.88 – Ideal short entry for risk-reward optimization 💰
✅ Momentum Shift Possible – A drop below $38.25 could accelerate downside move 🚀
📊 Trade Smart & Stick to Your Plan! 🏆🔥
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