I like to take opportunities like this to make them teachable moments. Avoiding big declines is the key to investment success over the long haul and this is a big decline. It’s important to note, I said BIG declines because declines are a normal part of investing, it’s just BIG declines that need to be avoided. In this case, BYND rose parabolic-ally, created an oversold condition and saw sellers show up in big volume (institutional investors) at its top (a day before my post). As you can see it has since gone on to fill the open gap created on the way up, continues its decline with likely targets down at previous support levels, S1 & S2. There are no guarantees it will stop there so dip buyers, beware. This doesn’t look like its done falling. It’s possible this could return back to its IPO initial offering price or lower. If that were to occur, combined with the current oversold condition, it would be a place where I would be looking to return back to owning the stock and mark a complete round trip for fake meat.
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