The main level I'm interested in is the support at 50.00. If the price reaches that level, I will start thinking about bullish opportunities.
Let's assume that happens. The pattern I want to see is:
First: breakout of the current descending trendline Second: a corrective movement with similar proportions to the red line you can see on the chart
IF all that happens, I will develop setups towards the next relevant level at 160.00. The horizontal yellow line you can see on the chart is a price level I will use to move my stop loss to break even because it may work as a reversal zone. This setup may become available between 30 to 60 days. In the meantime, it's important to have patience and avoid getting involved with low-quality scenarios.
Thanks for reading, and feel free to share your view on the comments ;)
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myandeminemmusic
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bynd was the first stock i followed. knew about it from before and knew the demand will be high along with the hype, sadly I didnt go in bevause I didnt trust etoro and plus500 etc and said well lets just watch it move...from 7.5$ to more than 150$ in a few months...that would have changed my life with only 1-2k investment... boinkers
mattlevi
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@myandeminemmusic and when exactly were u watching bynd at $7.5??? It was $45 the day it first opened on the stock market??
Highest_High
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Need to see volume
pissoff1
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I also agree
lizwethewrld
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Thank you for sharing your time and knowledge on this setup. Will also definitely keep an eye out this week for bullish opportunities.