BYND sets up a strong risk/reward on the Long side
1st Weekly Higher Low since IPO. 8+ week pullback into the now rising 20 Week SMA is the first sign of a bullish retracement in a rising trend.
Post-Earnings ABC pullback + gap fill
The Daily chart shows some "tails" the last couple days as the gap support was tested and held
Sale and EPS numbers are really picking up and they just announced a very solid quarter. I think playing this against the Weekly swing low at 120.32 makes a lot of sense, risking roughly $8 per share
I currently and Long shares here for Clients and personal accounts. I also hold Aug14 $130 Call options. I will continue to be opportunistic as long as price cooperates and holds above the recent lows.
I can be reached at cody@zentrendstrading.com, @ZenTrends on Twitter/Stocktwits
