$BYON - RC -
Added 2024-04-20 19:39:43 +0000 UTC$BYON has had a difficult couple of weeks.
Price broke out of its channel that it was in for 2 years leading up to earnings and then posted a negative report and on the pull back to test the channel top line, it sank and sank hard.
Price has also lost the 50 and 200 Day MA now but finished the week on the 0.618 Fib at $22.56
Losing this level and the next support is at $18.65.
But until the price can break out of this channel, there is still a risk of this drifting down the channel to the previous low again.
$28 will need to be flipped to support in order to trigger the bull case again but must hold this time.
Comments
The earnings report was released before the price steepend up. After earnings, it went to 36 within a few days and stayed there for couple weeks. Then the sudden drop on no news…strange
Matt
2024-04-24 17:08:07 +0000 UTC
