BYRN Earnings Reaction and the Next Big Opportunity

Where I’m Looking to Buy (Again) and Why

In early September, I recommended Byrna Technologies (BYRN) as a possible buy. But also mentioned that it was likely to hit resistance at $17.50 and $20 in the short term. True to form, it hit $19.42 a few days ago, just before its latest earnings announcement Then it happened… it rejected hard as soon as earnings came out. So what’s going on here? The Earnings Reaction On the surface, Byrna’s earnings looked solid. The company was estimated to have a -$0.01 per share loss, but they reported a $0.04 profit instead. That’s an impressive beat, right? Well, here’s the catch… While Byrna beat expectations, some analysts out there were whispering about an even higher $0.05 per share target — and Byrna didn’t meet that mark. And here’s where traders’ psychology comes into play. They tend to overreact, especially when a stock has had a strong run-up leading into earnings, as BYRN has had over the last few weeks. So, despite beating the street’s overall estimate, the fact that it missed some of those whisper numbers set the stage for a strong sell-off. The good news is that, in my view, this drop doesn’t change the bigger picture. Where I’m Looking to Buy I’ve traded Byrna several times over the past year, and I’ve spotted key entry points during these kinds of pullbacks. I first bought Byrna at $4.69 and sold at $10.49. Bought it again at $12.19, sold at $14.49. And then, I bought again at $12.19 and sold at $17.19. So, what’s the common theme here? That $12 mark has been a strong support level for BYRN multiple times. And I’m keeping a close eye to see if it pulls back into the $11 to $12 range again. If it does, I’ll be looking to scoop up shares there and ride it up to new highs. The Bigger Picture Despite the recent drop, Byrna is still beating expectations in terms of growing revenue and earnings. And while the market is reacting negatively right now, I believe there’s still a solid long-term case for this stock. Remember my long-term price target of $25 to $30? That hasn’t changed. So, while we might see some more short-term volatility, the pullback we’re seeing could just be another opportunity for a strong entry. Final Thoughts The takeaway? If you’re looking to get into BYRN or add to an existing position, consider waiting for that $11 to $12 range. That’s where I’m planning to buy. And if it holds, we could be looking at another run to new highs in the months ahead. Stay tuned. — Geof Smith P.S. I gave out a FREE trade in my Energy Superplay session today. Click here and go grab it!

In early September, I recommended Byrna Technologies (BYRN) as a possible buy. But also mentioned that it was likely to hit resistance at $17.50 and $20 in the short term.   True to form, it hit $19.42 a few days ago, just before its latest earnings announcement   Then it happened… it rejected hard as soon as earnings came out.   So what’s going on here?   The Earnings Reaction   On the surface, Byrna’s earnings looked solid. The company was estimated to have a -$0.01 per share loss, but they reported a $0.04 profit instead. That’s an impressive beat, right?   Well, here’s the catch…   While Byrna beat expectations, some analysts out there were whispering about an even higher $0.05 per share target — and Byrna didn’t meet that mark.   And here’s where traders’ psychology comes into play.   They tend to overreact, especially when a stock has had a strong run-up leading into earnings, as BYRN has had over the last few weeks.   So, despite beating the street’s overall estimate, the fact that it missed some of those whisper numbers set the stage for a strong sell-off.   The good news is that, in my view, this drop doesn’t change the bigger picture.   Where I’m Looking to Buy   I’ve traded Byrna several times over the past year, and I’ve spotted key entry points during these kinds of pullbacks.   I first bought Byrna at $4.69 and sold at $10.49.   Bought it again at $12.19, sold at $14.49.   And then, I bought again at $12.19 and sold at $17.19.   So, what’s the common theme here?   That $12 mark has been a strong support level for BYRN multiple times. And I’m keeping a close eye to see if it pulls back into the $11 to $12 range again.   If it does, I’ll be looking to scoop up shares there and ride it up to new highs.   The Bigger Picture   Despite the recent drop, Byrna is still beating expectations in terms of growing revenue and earnings. And while the market is reacting negatively right now, I believe there’s still a solid long-term case for this stock.   Remember my long-term price target of $25 to $30? That hasn’t changed.   So, while we might see some more short-term volatility, the pullback we’re seeing could just be another opportunity for a strong entry.   Final Thoughts   The takeaway?   If you’re looking to get into BYRN or add to an existing position, consider waiting for that $11 to $12 range.   That’s where I’m planning to buy. And if it holds, we could be looking at another run to new highs in the months ahead.   Stay tuned.   — Geof Smith   P.S. I gave out a FREE trade in my Energy Superplay session today. Click here and go grab it!

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ABOUT US:  We believe that the opportunity for financial literacy and freedom belongs to all people, not just those who already have years of investing experience. Prosperity Pub provides an array of educational services and products that will help you navigate the markets and become a better investor. Trading is made simple through our online forum full of trading techniques to give you the best tools to kick-start your investing journey. We offer collaborative webinars and training; we love to teach. No matter the opportunity, we bring together a strong community of like-minded traders to focus on analyzing market news as it’s presented each day. DISCLAIMER: FOR INFORMATION PURPOSES ONLY. The materials presented from Prosperity Pub are for your informational purposes only. Neither Prosperity Pub nor its employees offer investment, legal or tax advice of any kind, and the analysis displayed with various tools does not constitute investment, legal or tax advice and should not be interpreted as such. Using the data and analysis contained in the materials for reasons other than the informational purposes intended is at the user’s own risk. DISCLAIMER: TRADE AT YOUR OWN RISK; TRADING INVOLVES RISK OF LOSS; SEEK PROFESSIONAL ADVICE. Prosperity Pub is not responsible for any losses that may occur from transactions effected based upon information or analysis contained in the presented. To the extent that you make use of the concepts with the presentation material, you are solely responsible for the applicable trading or investment decision. Trading activity, including options transactions, can involve the risk of loss, so use caution when entering any option transaction. You trade at your own risk, and it is recommended you consult with a financial advisor for investment, legal or tax advice relating to options transactions.  Please visit https://prosperitypub.com/terms-conditions/ for our full Terms and Conditions. Unsubscribe This email was sent to phanxuanhoa60.trade1357@blogger.com by Prosperity Pub 101 Marketside Ave, Suite 404 PMB 318, Ponte Vedra, Florida 32081, United States Prosperity Pub