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.
Comment:
RSI held over 50 and is making a nice move up today. Now is a good time to enter calls.
Comment:
Forgot to mention, a trade over the high of 2/4 is a trigger for buying calls.
