Beyond meat has been growing in value since its IPO later this year. Consolidation was expected since, and it has started with a first impulse wave described in the descending parallel channel. If the lower of the Bollinger Bands is broken, we may see the price testing the 61,8 % FIB area with a price of 119,56 $ A break of this area can lead us to 85$.
The Price oscillator is now in the negative zone under 0 as well as the MACD. This scenario is invalid if we break up the price of 160$