Trouble Ahead For Hims & Hers Stock?

Shares of Hims & Hers Health, Inc. HIMS are in trouble.

The stock is testing critical support and if this support holds, shares may rally. But if not, watch out below.

Support is a concentration of buyers gathered at the same price level. In this case, it's $12.50.

If the support breaks, meaning the stock falls below this level, it will show these buyers are gone. They have finished or canceled their orders.

Either way, they have left the market.

With this demand for the stock gone, sellers will be forced to accept lower prices for their shares. This could force HIMS into a downtrend.

See Also: 3 Pharmaceutical ETFs That Could Be Due For A Rebound