BYND Strong IPOBYND is in a strong and tight bull channel since the IPO. This bull trend from the open is what a trader wants to see when buying for long term investments. Last week formed a reversal attempt. When the market is strong, first reversal attempts fail 80% of the time and instead create the start of a second leg up. The bears will likely need some form of second reversal attempt like a large low 2 or failed bull breakout (they act the same), in order to increase the likelihood of reversing the bull spike. Even if there is a good bear reversal, the bulls will likely look to buy again around the 50 open. If the bear pressure is not strong, the bulls will look to form a spike and bull channel which usually forms after two legs sideways to down, and generally stem from a high 2 or wedge bull flag.
If you found this helpful please like and share! Feel free to comment or ask questions.
DFRG
Del Frisco's remains a buy pre-earnings Still too cheap with pending earnings release, potential with bartaco and barcelona wine bar, new activist investor on the board, plenty of buyout rumors.
DFRG - Cup & Handle formation Momentum Long from $15.43/$15.58 DFRG seems forming a cup and handle pattern. We think it has very good chance to continue upward from here.
* Trade Criteria *
Date First Found- April 4, 2018
Pattern/Why- Fallen angel formatio, Cup & Handle formation
Entry Criteria- Pullback to $15.43 or break above $16.53
Exit Criteria- N/A
Stop Loss Criteria- $14.93 (updated April 12, 2018)
Indicator Notes- Twiggs moneyflow accumulation
Special Note- Good levels of buying and recent buying in March at $16 by CEO.
Please check back for Trade updates. (Note: Trade update is little delayed here.)
DFRG - Flag formation long from $17.7 DFRG is running within an upward channel formation. However, it seems forming a flag formation. If it can break out the channel, it can continue upward.
* Trade Criteria *
Date First Found- January 17, 2018
Pattern/Why- Flag formation long
Entry Target Criteria- Break of $17.07
Exit Target Criteria- Momentum
Stop Loss Criteria- N/A
Indicator Notes-Moneyflow has broken positive
Please check back for Trade updates. (Note: Trade update is little delayed here.)