BYND recently cracked 120 and I'm curious to see if there's more to go from here. Appears to be a topping pattern on long and intermediate term charts. We'll see if BYND has what it takes or if it's beyond gone. FREE and TTCF have also been in the dog house
Beyond Meat is breaking out of a Bull Flag and is at the bullish 50 & 200 day ema crossover point. If the price can break through and stay above the strong 170 resistance area for a couple weeks this could confirm a bullish long term trend. Although there needs to be a considerable increase in volume to make this happen.
Watch out for a "Fakeout" above resistance...
A lesson in over-reactions to positive news in the market, and BYND is no stranger to that.
I would exit this if you're long as the risk-reward on this shorter term isn't worth it.
Often times these announcements will pump the stock so high up that it creates a gap in the charts.
The gaps often need to fill to create healthy price structure. It's not ALWAYS the...
Great Day for BYND holders as BYND just announced a partnership with PepsiCo under an joint venture called PLANeT Partnership. Time will tell exactly how much of a market they can gain with their products so price moves like these can be attributed to shorts covering their positions as well the positive news.
If you check out our previous charts, we've been...
- 30 min time frame
- Support and resistance being well respected (range)
- Support 135, Resistance 145
- Expecting the price to bounce off 135
- Rsi respecting 33.00 4 times with the support at 135
- Waiting for confirmation (Break of 137.50)
- Stoploss 134.50
- Take profit 144.70
Daily and 4H chart confirm these strong resistance levels, Ascending triangle forming over a month. MACD on daily pointing upwards and possibly break trend. A great long term hold, look for a 2%-5% break @ 141 for direction.
There is a big freaking triangle forming on the #BYND price chart... can be bearish.. but can rocket if the right news is issued in the next week.
Price has been squeezing for a while now, will be released sooner than later, direction is hard to predict though.
High profitable trade, with tight stop loss under the below structure.
PT3: if Beyond...
Tesla, Boeing, Apple, Amazon, Beyond Meat - all shown in this video.
This is an incredibly powerful strategy, we are only just touching the service with this.
Take a look, it speaks for itself.
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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?