Hello Traders,
BYND has made a corrective low @ $138.- and reversed to the upside within a corrective pattern. Todays price (NDX session included) is @ $165.99!
This level is a 0.618 Fibonacci of the first leg down, which implies a „ZigZag“ within a wave (a) down and a wave (b) close to an end.
If so to come, BYND ís at forefront to fresh new lows within an impulsive decline. This zone is around the wave ((iv)) low @ $125.28. Note, that there exists an open gap that will be closed at $99.53 on a closing basis.
Note also, that at the level of the possible wave (b) high, a „triple-top“ is in place for now and a decline with a solid close below the blue trendline possibly indicates the start of the wave (c) sell off!
On the other hand...a breakout below the range of $173, possibly with a gap up will open the door to fresh new highs for BYND in the coming days!
I will update the chart if anything important develops!
Have a great weekend....
ruebennase
Feel free to ask or comment.
Trading this analyze is at your own risk!
BYND has made a corrective low @ $138.- and reversed to the upside within a corrective pattern. Todays price (NDX session included) is @ $165.99!
This level is a 0.618 Fibonacci of the first leg down, which implies a „ZigZag“ within a wave (a) down and a wave (b) close to an end.
If so to come, BYND ís at forefront to fresh new lows within an impulsive decline. This zone is around the wave ((iv)) low @ $125.28. Note, that there exists an open gap that will be closed at $99.53 on a closing basis.
Note also, that at the level of the possible wave (b) high, a „triple-top“ is in place for now and a decline with a solid close below the blue trendline possibly indicates the start of the wave (c) sell off!
On the other hand...a breakout below the range of $173, possibly with a gap up will open the door to fresh new highs for BYND in the coming days!
I will update the chart if anything important develops!
Have a great weekend....
ruebennase
Feel free to ask or comment.
Trading this analyze is at your own risk!