AlphaBotSystem

BEYOND MEAT ($BYND): Bullish Beyond Earnings?

NASDAQ:BYND   Beyond Meat, Inc
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Looks like bull, tastes like bull, but its time to find out what this Beyond Meat is really made of going into earnings . Look, people need to eat even during COVID, but are they eating enough Beyond Meat for price to break through resistance, that is the question?

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1. Fractal Trend is showing an uptrend (Green background color) for BYND on the 30 minute chart.

2. An uptrend into earnings is good news for Beyond bulls. That said, we are making plays based off of Breakaway Scalper, which currently is signaling neutral with a Grey Bar color after a profitable long (Green bar color) that ended April 27.

3. We are currently waiting on a definitive signal from Breakaway Scalper (for example a long signal as long as the uptrend remains).

4. Assuming the uptrend continues, we will be looking for reactions at R1 - R3 to the upside.

5. If we head lower, the S1 orderblock cluster is a logical spot to find support, while "the floor" highlighted on the bottom represents the last hope for Beyond bulls.