While I would never even think of buying Beyond Meat as a product, it does look good as a trade.
Earnings yesterday setup a technical rally and a lot of shorts are getting squeezed out of positions. Technically, you can see that price has broken out of a fallen wedge.
The first target should be $22. Let's see if we can continue higher from there.
I've bought GETTEX:11C and 15C for 3/15 to play this idea.
there is resistance at $15. I placed a call spread for $11/$15 with R2R ratio of 1:3 expiring in April monthly.
Chartguru1
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Agreed …$20 will be neckline. Dip to create right shoulder of the inverse head and shoulder pattern. Still like $60/65 long term
visionerabusiness
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bynd product is the best in the industry - good texture and taste. I prefer vegan meat instead of beef or pork.
benjihyam
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@visionerabusiness, is it? Because the product is filled with garbage oils which are worse for you than just eating normal food.
Chartguru1
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@benjihyam, check the news by their new generation meat. McDonalds Wendy’s or someone else will give it a try. Now with avocado oil. Cattle prices sky rocketing. Matter of time they mix in the bynd meat with real beef. You or I won’t know the difference. Let’s see