$HIMS - Still no touch for me.

HIMS Amazon is starting to sell cheap hair-loss drugs. BofA downgraded the stock from Buy to Underperform. The stock reacted with a 25% drop.

I had always been concerned about the threat from Amazon, along with legal and regulatory issues for this stock.

I don't think Amazon will stop at just selling hair-loss drugs. They might go for everything that Hims offers and more.

As for the technicals, today's drop is a huge blow to the momentum. If you are bullish on the company, I would wait for the bottoming process.

At a minimum, it could check back to the uptrend line.

See the potential drop area in the chart.

As always, I share my opinions and trades. I'm not suggesting that anyone follow my trades. You do you.