Long

BYND - Going to zero or one to watch?

Going bankrupt is always an option. This is purely a technical view. If it isn't going to zero, it certainly is looking interesting from an Elliott Wave point of view.

From 240$ to 6$ is quite the drop.

With the proposed count, the last wave 5 could be done or we might be in a last wave 4 before another push down.

Here's a count of the last wave, that would be done:

And a fitting count on the 1h for the move from the low:

Building a bottom can take a while though and fundamentals don't appear to be that great. On the other hand this is one of those highly shorted stocks, so a short squeeze is also a possibility. Unfortunately I'm not privileged to have insider information that would allow me to time such a thing ;)

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I'm not saying that it can't continue going up, but for the time being it has reached the high probability zone for a wave 3.

On smaller timeframes, I'd say it has at least another high for a possible wave 5 of 3 left. We'll have to wait and see if we get the full impulse as shown.

Either way, nice 40%+ move within a week. Hope someone else caught it along with me :)

Note

Looks like it delivered the mentioned "at least one more high" :) Now sitting at 50%+ from the initial post 2 weeks ago.

While I'm not calling any tops, it is worth noting that there is a good fitting count here.

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Note

No surprises here so far.

If this is a wave 4 with a wave 5 missing, we are in a zone, where a hold would give more conviction.

Should there be a sustained break to the downside, I'd expect to hit the 8$ mark at least.

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Got a 10%+ reaction out of the first zone, but ultimately it broke and as mentioned 8$ would be expected next, which is where we are now.

This is pretty much the last hold for that count to stay valid. It could of course still turn into a diagonale, if it overlaps wave 1, but at this point it's also not difficult to see a possible impulse to the downside:

which is why I would've preferred for the first zone to hold. With the possibility of an impulse down one would have to consider more downside, even if we get a reaction to the upside from here - that might just be corrective.

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Under the "low is in" assumption, there's really just an expanding diag as an offer here:

And if the low actually isn't in yet, we might be in an ending diag, that could put in another lower low:

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As shown in the last image of the last update, there couild still be another low waiting.

This count would support that.

The only way to assume the low is in, that is left, would be a 1-2 of a diag, which rarely is a great thing to have as a main assumption.

Note

That last move to a new high changed very little, the two main views shown still remain:

Either a diag seeking another low (yellow) or a diag from the low missing still the 4 and 5 (white)

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So far it followed the yellow path from the last update and we have a new contender for a low.

The breakout above the trendline did not yet hold though, we did not make a new significant high (> $10.4) yet and the 1D vegas wave is sill acting as resistance, so too early to call.

TophatPandaMagician

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