Hey bro – Still watching BYND for bottom formation… Not quite there YES, but we might be soon. Trying to find a good entry for a play to the upside

Hey Hoperush – I’m not really sure what to tell you here. There are absolutely ZERO redeeming qualities about this chart. It’s in free-fall on nearly every important TF. I guess you can hope for a bounce in the $80.93 area? But who knows for sure. $66 (and lower) COULD be on the table. TBH I HATE playing the game of ‘Let’s hope the stock stops here’ without some sort of bottom formation, at LEAST on a shorter TF. BYND has a LOT of work to do in order to reverse the downward momentum. It’s certainly not impossible because it’s come down a long way, but I need to see something concrete that tells me a reversal is in the cards.

@rsotc and AlexCN was it daily close below 82.59 that we close the postion with STOP LOSS ?

I understand hoperush. Entering a trade like this with any monetary volume, and without a clear bottom is a good way to get wrecked. Best of luck on this one.

Thanks.. at this rate, even break even is good…

BYND still WELL inside EQ chart pattern, without clear break to the upside OR downside yet. The problem is that, even bouncing up and down within the channel is likely to bring the stock lower since RSI levels are so bad. Stay in, if you can stomach it, but as I stated earlier, this is a very ugly, risky trade at the moment. Personally, I’m waiting for bullish confirmation before even thinking about entering long here.

@rsotc, do you suggest daily close watch ?

Hi Randy,when you say you don’t do options how do you short without using options? Would like to know if there are any other ways to Short if there are any?