PIERCING PATTERN on daily Beyond Meat!

28 paź 2019

Beyond Meat suffered much from its downtrend but a little bit of hope just occurred on the chart. It is called Piercing pattern, a green candle (showed with the arrow) opens lower than the previous minimum. Then the price goes up showing that the bulls are ready to take action. It's still in downtrend therefore I would sell around the lower blue line (@126) because it is located right at the middle of the red line on the Kagi chart. If the bulls were stronger than ever, the second blue line would be the best choice (the shoulder on the Kagi chart)

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29 paź 2019

Zlecenie zamknięto ręcznie

Not sure why, but TV didn’t show the prices of post-market and pre-market trades. Therefore I assumed the market closed and used the old rate (@105)

Meanwhile, the stock went down with the gap to 85. I closed this at 98 but the trade should have never happened as the downward gap cancelled the piercing pattern.