Hello everyone, Barrie Einarson from Trade Ideas here with today’s edition of “What Makes This Trade Great.”To Subscribe: https://go.trade-ideas.com/SHQ Use Code BARRIE15

In this edition, we’re discussing an exciting alert from our AI system regarding HIMS. The alert was triggered at $16.91, and what happened next was remarkable. Let’s dive into the details of the trade and explore why it was so significant.

At 9:21 AM, our AI alerted us to HIMS at $16.91. The pre-market activity, represented by the tan area on our charts, showed that something significant was brewing. When we checked the news, it became clear that HIMS had entered the obesity drug sector. This news was a major catalyst for the stock’s movement.

HIMS announced that they would be offering a new obesity drug, a development that the market responded to very positively. This kind of news can significantly impact a stock’s performance, and HIMS was no exception.

Following the alert, HIMS saw an incredible run. The stock surged past $20 before experiencing a pullback. This kind of movement showcases the power of our AI alerts and the importance of staying informed about market news.

Initial Surge and Pullback

• Alert at $16.91: Our AI system flagged HIMS at this price.
• Peak at Over $20: The stock surged past $20, demonstrating a significant gain.
• Pullback: After reaching its peak, the stock pulled back slightly but maintained a strong position.

During the day, I also took a short position when the stock approached the $19 level, anticipating a potential reversal. This decision was based on technical analysis and market sentiment at the time.

• Entry Point: Around $19
• Rationale: Anticipating a reversal after the initial surge.

We’ll need to monitor how the stock behaves throughout the day to see if it gives up more of its gains or stabilizes at a new level.

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