HIMS Bulls Should Heed This Historic Chart Signal

HIMS Bulls Should Heed This Historic Chart Signal

HIMS Bulls Should Heed This Historic Chart Signal Don't bet on a rebound just yet

HIMS History says you should avoid HIMS stock right now Drugmaker Hims & Hers Health Inc (NYSE:HIMS) stock is moving 6.6% higher to trade at $29.34 this afternoon. Despite its two-day pop, the shares have fumbled longer term, struggling to recover from a drawdown from its early July highs. Now off 3% in 2026, another pullback could be looming, with the 260-day moving average overhead and a historically bearish signal now flashing.

HIMS sports a 50-day call/put volume ratio of 4.53 at the International Securities Exchange (ISE), Cboe Options Exchange (CBOE), and NASDAQ OMX PHLX (PHLX), which stands higher than 98% of readings from the past year. There have been three instances in the last three years that the equity's 50-day buy-to-open put/call ratio crossed over 1.0 and moved into the 90th percentile. Per Schaeffer's Senior Quantitative Analyst Rocky White, the drugmaker was lower one month later 100% of the time after these signals, averaging a 15% loss. From its current perch, a move of similar magnitude would place the stock just above $25.

Echoing this, Hims & Hers Health stock sports a Schaeffer's put/call open interest ratio (SOIR) of 0.61. This ratio ranks higher than just 29% of readings from the past year, suggesting short-term bears have plenty of room to move in. There is ample opportunity for downgrade and price-target cuts, too. Heading into today, 36 of the 44 covering brokerages sport a "buy" or "strong buy" recommendation. Plus, the average 12 months price target of $31.53 comes in at a 7.5% premium to current levels.

Options are looking affordable as well, per the stock's Schaeffer's Volatility Index (SVI) of 39%, which stands higher than just 9% of all other readings from the past year. In other words, near-term option traders are pricing in relatively low volatility expectations at the moment.