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BYND Update

So my pennant wasn't correct last week, it actually formed a much bigger one. As you can see, it's overbought on the hourly, so probably a bear trap dip this afternoon and possibly tomorrow. Things like to back test the pennant before breaking out so a down day won't surprise me but I would not short this stock.

Rather wait for the breakout and go long. Target appears to be gap resistance from earnings, $85.

Of course everyone knows this garbage can get there in a hurry with a short squeeze, so it may happen as early as tomorrow, lol. Might be worth a day trade. Keep an eye on it tomorrow.

Ghi chú

There's an inverted H&S or C&H in there as well, but I like to make my targets off of pennants, my usual followers know....

The safest way to play this is to wait until it breaks $75 then it's headed to 85 in a hurry, because it always does.

If it dips tomorrow, I might buy a few calls for next week for kicks and giggles (only because I banked a profit this week, lol)

Ghi chú

I might buy some calls for next week right before close if it doesn't tank.

the short squeezes always start with a gap up so I'm not sure I want to chase a gap

Giao dịch đang hoạt động

Bought 3 contracts for next week when it dipped to $72.5.

Note: This is basically a side play for me, I'm up $3k for the week so just playing around with profits. I would never buy BYND as a serious investment.

Ghi chú

Not gonna add, we'll see what happens tomorrow, if it gaps down I'm out.

Fortunately I was shorting FSLY at teh same time so I'm even for the day, but I should've waited until EOD like I said I was gonna.

Ghi chú

Gonna hold since it's a side play. Should fill the gap anyways. Might add a couple more contracts around 11am.

I said yesterday it could backtest the point of he pennant. Stocks do that a lot.

Giao dịch đang hoạt động

Added 3 $70 calls on the morning dip. Probably should have played tech instead, lol.

That's about my limit for a side play, we'll see where this goes next week

Ghi chú

I'm holding as long as it finishes above open today.

hungry_hippo

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hungry_hippo