BYND has hit my long term fib target and has pulled back to the 0.618 - 0.786 retracement that I have been waiting for.
Now with bullish divergence coming in and a strong impulse candle just printed, it looks ready to bounce and perhaps even this is the retracement bottom of the market.
If it is the bottom, this could be a very lucrative play in this stock that has had a devastating bear market.
May pull back here as it is hitting the 4H 50MA, but if it can break through then we may see a big bounce.
This stock is becoming quite big in the UK; their products in major chain supermarkets and pubs.
They have Kim Kardashian advertising it so we'll see - it may go on to do big things and have wild bull markets.
Not advice.
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This is also a great stock to sell puts on. For example I have sold the March monthly $6 strike OTM put and at current price if put to me at expiry I would own it for $5.19 which is below the market bottom.
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Log 2.272 reverse extension with 2.414 overshoot ratio has captured the low.