$BARD Bear Flag: Don't Catch This Falling Knife Yet !
A lot of people are asking about $BARD after the recent volatility, but my analysis suggests we need to stay patient. The structure is broken.
Currently trading around $0.38 (down significantly from recent highs), the market structure on the lower timeframes is showing a clear distribution phase .
The Trade Setup (For the brave bears):
Traders are eyeing the current level as a potential entry for shorts.
· Entry: Current price or on a weak bounce.
· Stop Loss: Tight above $0.43.
· Targets: The momentum is weak. We are looking at $0.35** and possibly **$0.30 if the sellers maintain control .
Why is it weak?
There is a lack of fresh catalyst for $BARD right now. Without a narrative or a bid from the development team, the path of least resistance is down. The sell volume is absorbing any buy pressure.
My Verdict:
Do not try to catch this knife. Let the price find a bottom. If you are holding, I’d be looking for a reclaim of the $0.45 level before adding to bags. If we lose $0.35, the next floor is a ghost town.
Are you holding or cutting losses here?
Be honest with your entry price below.
