BYND - watch daily chart, possible setup for calls
After a sharp move up, stock retraced back to the 20sma on 2/3. 20sma is just coming out above the cloud and showing a good uptrend. RSI yesterday came down to 51 and today it should move higher if stock is to move up. Stochastic %K was at 11 yesterday and should bounce up.
More risk - buy March monthly calls today and hold until/thru earnings on 3/2 - set exits and targets.
Less risk - wait for today's candle to close for upside confirmation and enter later this week.
Alternatively, if selling continues the stock can retrace to 98-99, at the weekly 20sma and gap, before moving up again.
More risk - buy March monthly calls today and hold until/thru earnings on 3/2 - set exits and targets.
Less risk - wait for today's candle to close for upside confirmation and enter later this week.
Alternatively, if selling continues the stock can retrace to 98-99, at the weekly 20sma and gap, before moving up again.
Note
RSI held over 50 and is making a nice move up today. Now is a good time to enter calls.Note
Forgot to mention, a trade over the high of 2/4 is a trigger for buying calls.
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Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.