$BYND breaking Flag for a possible wave 5 Long

Beyond Meat, Inc.NASDAQ

Description

⋅ Feb 5, 2021 5:59 PM

Analysis of the chart shows that BYND has two waves already. Wave 2 did not come down to .618 but wave 4 perfectly bounced off of the .618 trendline.

Bull flag is clearly formed by the 205 run up that wsa recenty had. Bull flags most commonly form in the 4th Wave consistent with the chart.

It appears BYND is breaking out of its flag and starting its 5th wave.

Comments

Will_Wong

⋅ Feb 21, 2021 3:44 AM

Looks more like a 1-2,1-2. That wave 4 retraced too deep to be a wave 4.

Chartguru1

⋅ Feb 21, 2021 10:48 PM

@Will Wong, agreed.

NapoleonStockS

⋅ Feb 21, 2021 10:54 PM

@Will Wong, I could actually see that. I have been looking at it and The flag still holds with the recent events. I think it could still make a move with earnings this week