Trade Setup Breakdown for HIMS (30-Min Chart)!

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๐Ÿ“Š
๐Ÿ”น Stock: HIMS (NYSE)
๐Ÿ”น Timeframe: 30-Min Chart
๐Ÿ”น Setup Type: Symmetrical Triangle Breakout

๐Ÿš€ Trade Plan:
โœ… Entry Zone: $44.50 - $46.00 (Breakout Confirmation)
โœ… Stop-Loss (SL): $41.07 (Below Key Support)

๐ŸŽฏ Take Profit Targets:
๐Ÿ“Œ TP1: $48.24 (First Resistance)
๐Ÿ“Œ TP2: $52.59 (Extended Target)

๐Ÿ“Š Risk-Reward Ratio Calculation:
๐Ÿ“‰ Risk (Stop-Loss Distance):
$44.64 - $41.07 = $3.57

๐Ÿ“ˆ Reward to TP1:
$48.24 - $44.64 = $3.60
๐Ÿ’ฐ Risk-Reward Ratio to TP1: 1:1.01

๐Ÿ“ˆ Reward to TP2:
$52.59 - $44.64 = $7.95
๐Ÿ’ฐ Risk-Reward Ratio to TP2: 1:2.23

๐Ÿ” Technical Analysis & Strategy:
๐Ÿ“Œ Breakout Confirmation: Price holding above $46.00 with strong volume.
๐Ÿ“Œ Pattern Formation: Symmetrical Triangle Breakout, signaling potential bullish momentum.

๐Ÿ“Š Key Support & Resistance Levels:
๐ŸŸข $41.07 (Support / SL Level)
๐ŸŸข $44.50 - $46.00 (Breakout Zone)
๐ŸŸข $48.24 (First Profit Target / Resistance)
๐ŸŸข $52.59 (Final Target for Momentum Extension)

๐Ÿš€ Momentum Shift Expected:
If the price sustains above $46.00, we could see an upside rally towards $48.24 and $52.59.

๐Ÿ”ฅ Trade Execution & Risk Management:
๐Ÿ“Š Volume Confirmation: Ensure strong buying volume above $46.00 before entering.
๐Ÿ“ˆ Trailing Stop Strategy: If the price reaches TP1 ($48.24), move SL to $46.00 to protect profits.

๐Ÿ’ฐ Partial Profit Booking Strategy:
โœ” Take 50% at $48.24, let the rest run to $52.59.
โœ” Adjust Stop-Loss to Break-even ($46.00) after TP1 is hit.

โš ๏ธ Fake Breakout Risk:

If the price fails to hold above $44.50, be cautious and avoid entering early.
๐Ÿš€ Final Thoughts:
โœ” Bullish Breakout Setup โ€“ If price sustains above $46.00, a strong move is expected.
โœ” Momentum Shift Possible โ€“ Volume increase will confirm the trend.
โœ” Favorable Risk-Reward Ratio โ€“ 1:1.01 to TP1, 1:2.23 to TP2.

๐Ÿ’ก Stick to the trade plan, manage risk, and trade smart! ๐Ÿš€๐Ÿ†

๐Ÿ”— #StockMarket #HIMS #TradingSetup #TechnicalAnalysis #BreakoutTrade #DayTrading #MarketTrends #ProfittoPath

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