BYND was a GAP fill trade after month long bottom base during December.
Jan 7 was first surge green candle that signaled a move up from base was in play.
In only three trading days the GAP was filled.....now what?
Well with three or four surge candles and price now off the bottom base of support the reversal trade is on with uptrend in prices that filled a gap. Not much resistance until 142 area which gives a good return with any break out trade. How this develops is uncertain as momentum traders could give a lift out of the 90's and into the 100's rather quickly....from there any pull backs / retracements will need solid support with earnings less than 30 days away. If post earnings is flaming hot the sizzle towards 140's could taste good for any trades made today...so starting entree positions near GAP zone prices.
Dr.RAV
Jan 7 was first surge green candle that signaled a move up from base was in play.
In only three trading days the GAP was filled.....now what?
Well with three or four surge candles and price now off the bottom base of support the reversal trade is on with uptrend in prices that filled a gap. Not much resistance until 142 area which gives a good return with any break out trade. How this develops is uncertain as momentum traders could give a lift out of the 90's and into the 100's rather quickly....from there any pull backs / retracements will need solid support with earnings less than 30 days away. If post earnings is flaming hot the sizzle towards 140's could taste good for any trades made today...so starting entree positions near GAP zone prices.
Dr.RAV
Comment:
Made it in this morning @ $99.10