| | | | Yesterday, we talked about Byrna Technologies (BYRN) and its impressive 37% pop after reporting preliminary Q3 revenue numbers.
I mentioned that while this jump was exciting, it doesn’t guarantee we’ll see the same action when the official earnings drop in October.
But let’s dig deeper into what this means for the stock’s future and why I believe the best could still be ahead.
Long-Term vs. Short-Term: Where Does BYRN Fit In?
In January, when I first highlighted BYRN at $7, I had both short-term and long-term goals in mind.
The stock surged to $15, then corrected back to $10, which I discussed in July. As long as it held above $9, I was confident it would still be a strong buy.
Now, we’re sitting comfortably above those levels after yesterday’s jump. So, where do we go from here?
In the short term, it’s normal to expect some volatility, especially after a big move like this. We could see a pullback before any further upside. That’s why I’m watching key resistance levels, especially around $17.50 and $20.
But here’s the real story: Byrna’s long-term potential. The recent revenue numbers are just the tip of the iceberg. As we talked about yesterday, I still see the stock reaching $25 to $30 in the longer term.
The Power of the Product
The more I learn about Byrna, the more I’m convinced of its staying power. Their non-lethal self-defense products are in a growing market, and the recent expansion into law enforcement, like their deal with the Argentinian police, adds another layer of growth potential.
This isn’t just a meme stock or a flash-in-the-pan company. Byrna has a solid product, a growing market, and they’re hitting on all cylinders right now.
Looking Ahead to October
With the official earnings report coming up on October 10th, it’ll be crucial to see how the stock reacts. While the preliminary numbers look strong, we could still see some surprises.
That’s why, as we approach the report, I’ll be keeping a close eye on how the stock holds up around those key levels I mentioned.
Final Thoughts
Byrna’s rally may be just getting started. If you’re in it for the long term, like I am, there’s still plenty of upside to capture.
As always, be mindful of the short-term fluctuations, but keep your focus on the bigger picture.
— Geof Smith
P.S. Is Uranium set to boom? | | | | |
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