Hims & Hers Health Inc (HIMS) stocks jumped today with the buying pressure from aggressive investors gaining momentum and pushing the stocks higher. Shares of the stock increased by a whopping 6.94 percent to $28.68, up by $1.86 in the session. The impressive turnaround followed an $1.08 upside gap at the market’s opening. Investors are fueling significant short term activity, although there have been no apparent fundamental catalysts or news for the company.

Short Term Strength Meets Long Term Resistance

Recent price action suggests interesting technical trading scenarios. HIMS is now comfortably above its 20 day moving average of $25.89 and 50 day moving average of $25.63. This crossover confirms a bullish trend in the short and medium term.

The lurid, long-term scene isn’t good though. The share price is significantly lesser than its 200 days moving average price of $33.57. Because of this gap, experts note that the overall long term structure is still technically bearish.

What the Analysts Say

There are mixed opinions among market experts on the sustainability of this rally. The expert at Traders Union, Anton Kharitonov, says the momentum indicators display overbought signals. He says there’s a very good chance of a price pullback and that traders should not be questing to join in the current move, for no further confirmation with this in the long term.

Traders Union expert Viktoras Karapetjanc on the other hand is more optimistic. He notes that growth stocks have a market interest, which is driven by an underlying demand. The bullish structure will remain intact as long as the stock doesn’t break below vital support, he contends.

Analyst Parshwa Turakhiya believes that there is going to be a lot of mayhem trading activity around the $29 resistance point. He believes there are tactical trading opportunities for active traders in this volatile market.

Key Levels to Watch

For the next five trading sessions, the stock will likely consolidate within a range of $27.59 to $29.41. The $27.59 mark serves as crucial support. If the price drops below this level, a deeper pullback towards older support lines is highly favored.