BSP’s earnings report came out and immediately smashed right through the board—down 15% in 24 hours, hitting a low of 39.19. Revenue guidance is 2.78–2.82B, which is clearly below the market’s expectation of 2.895B—this is the direct reason the market isn’t buying it. The Q3 guidance is fairly in line, but the issue is that everyone is betting on high-growth delivery; since the numbers aren’t “sexy” enough, capital has been moving out very quickly.
On the technical side, the 41 level is quite delicate—it lines up with the lower edge of the prior high-density trading range. If the intraday low at 39.19 holds, the odds of a short-term rebound aren’t small, but don’t expect a V-shaped reversal. Resistance lies overhead at 44–45; without volume, it won’t break through. In terms of trading: either take a small position around 39.5—set a stop and exit if it breaks below 39; or wait for a rebound to above 44 before considering chasing. The middle part is hard to “eat” profitably.
This move is mainly expectation-gap correction; fundamentally, nothing has fallen apart—it’s more of a valuation squeeze. $BSP in the short term will likely churn as it digests, so there’s no rush to bottom-fish.
On the technical side, the 41 level is quite delicate—it lines up with the lower edge of the prior high-density trading range. If the intraday low at 39.19 holds, the odds of a short-term rebound aren’t small, but don’t expect a V-shaped reversal. Resistance lies overhead at 44–45; without volume, it won’t break through. In terms of trading: either take a small position around 39.5—set a stop and exit if it breaks below 39; or wait for a rebound to above 44 before considering chasing. The middle part is hard to “eat” profitably.
This move is mainly expectation-gap correction; fundamentally, nothing has fallen apart—it’s more of a valuation squeeze. $BSP in the short term will likely churn as it digests, so there’s no rush to bottom-fish.