This stock is VERY volatile. While I understand the angst and concern, look at what this stock has done in the past month: went from high 20's down to 18, back up to high 20's, down to 18 again, more than doubled to 40+, then dropped back to the low 20's, back up to 35, back down to mid 20's.
If you want a calming sensation, I'd suggest that this is NOT the right stock to be in!
You can play it for the inevitable short-term rocket rides, or you can play it longer-term, but realize that if you play it longer-term you need to be able to close your eyes.
The TA still looks encouraging. We still have a classic upside breakout from a symetrical triangle, followed by a pullback to the apex (typical). We've also had (today) a test of 50-day moving average.
Any further downside action could be worrisome, however. Some Internet stocks have been breaking their 50ma. It could be a sign that it's "all over". Kinda sad if 40 was "it". Other Internet stocks are holding their 50ma, however. We will see over the next few days if the Internet stocks break into two groups, one holding the 50ma and one not. There was some suggestion this morning on CNBC that "Internet Commerce stocks" were breaking their 50ma. However, BYND hasn't (yet), and it may turn out that only a certain class of Internet commerce stock does that.
I think it makes sense to be a buyer right around this price, but with a tight stop (say, 22-23). |
