$HIMS – The price has bounced off the 0.786 Fibonacci POI, exactly as I covered in prior PAT Updates.

However, it’s now testing the lost high-timeframe support range, marked in green, which has been a strong reversal zone over the last couple of months.

Because of this, before I start building a spot position, I want to see clearer signs of strength on the low-timeframes to confirm that the bottom is durablyin.

If not, we could still see a rejection here, followed by a break back below the 0.786 Fibonacci POI.

In that scenario, hedging part of the spot holdings would become the best approach to mitigate short-term downside risk before a true bottoming formation develops.