$BYND as you can see, we have a nice pennant charted up with a breakout move of ~$130
We can see the breakout to the downside. But it seems that this is going to invalidate the initial breakout by catching support here and continue the breakout move up. If we can see just a tad more confirmation of this support, this would make my target for BYND to be $202
Making this a a 170% return on investment if you enter long at $75 (shares)
I largest concern is the $113 level, because here we can reject off of the pennant and begin the downtrend again. I will be watching it carefully at that level
Reversal here is also supported with alot of strength coming in with $SPY, $QQQ, $SPX, and $ES and massive buying pressure on BYND down here
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We can see the breakout to the downside. But it seems that this is going to invalidate the initial breakout by catching support here and continue the breakout move up. If we can see just a tad more confirmation of this support, this would make my target for BYND to be $202
Making this a a 170% return on investment if you enter long at $75 (shares)
I largest concern is the $113 level, because here we can reject off of the pennant and begin the downtrend again. I will be watching it carefully at that level
Reversal here is also supported with alot of strength coming in with $SPY, $QQQ, $SPX, and $ES and massive buying pressure on BYND down here
Visit my profile for more trading ideas
PG13