Beyond Meat ( NASDAQ:BYND ) In A Cup?
No of course not! Beyond Meat ( NASDAQ:BYND with a cup on its chart? Yes!
BYND has been in a downward trend since the beginning of the year. I discovered two factors that led me to believe that the stock will begin an upward trend.
1. Cup on the daily timeframe
2. Bullish Divergence
On a non-technical note, Beyond Meat...
Headfake this week thanks to the whole Fast Company Fake News but it did help get BYND stock back on the radar for some who all but forgot the fake meat company existed. MCD news on good earnings today seems to have helped other food stocks. Whether the McPlant becomes a staple for McD's is to be seen.
Some of the current restaurant brands on the roster...
Beyond Meat, Inc. manufactures, markets, and sells plant-based meat products in the United States and internationally. The company sells a range of plant-based meat products across the platforms of beef, pork, and poultry. It sells its products through grocery, mass merchandiser, club store, convenience store and natural retailer channels, and direct-to-consumer,...
1. ATL is floored in March followed by a Bullish rally in April as happened previously in 2020.
2. Price is on a major support.
3. Bearish Trend Line is broken with a green candle.
4. ABCD pattern completed and price has retraced with bullish candles.
5. Formation of Bullish Rectangle
6. Bullish Divergence
7. Fib retracement from ATL to 0.236...
Beyond Meat, Inc., a food company, manufactures, markets, and sells plant-based meat products in the United States and internationally. It operates under the Beyond Meat, Beyond Burger, Beyond Beef, Beyond Sausage, Beyond Breakfast Sausage, Beyond Chicken, Beyond Fried Chicken, Beyond Meatball, the Caped Steer Logo, Go Beyond, Eat What You Love, The Cookout...
Beyond Meat - Short Term - We look to Buy at 60.97 (stop at 55.50)
Previous support located at 60.00. The bullish engulfing candle on the daily chart is positive for sentiment. We look for a temporary move higher. This provides an excellent risk/reward opportunity to fade the current bearish move.
Our profit targets will be 85.29 and 94.12
I expect Beyond Meat to bounce off orange support. But there is still ≈ 20% before it. Additionally, cyclical analysis suggests a reversal from decline to rally in the second half of Jan'22.
I set the alarm when the thin turquoise line is broken, after which I will start purchasing by the pyramiding method.
Not a financial recommendation.
Buy Order set between the 1.786 macro fib and the 3.618 micro fib.
Oversold so why not + Bullish Trendline Div
Fundamentals aren't that good - Losing money (source: Balance Sheet). The company's product is in many supermarkets. Betting on this being the leader of alternative meats.
Here, down we go.
We are not in the business of getting every prediction right, no one ever does and that is not the aim of the game. The Fibonacci targets are highlighted in purple with invalidation in red. Fibonacci goals, it is prudent to suggest, are nothing more than mere fractally evident and therefore statistically likely levels that the market will go to....
I've listed most of my Technical analysis points on chart. Fundamentally the company has plenty of cash on hand to handle debt obligations for 12 months onwards, but the astronomical Valuation metrics (i.e. Price to Sales, Price to Book) when compared to traditional competitors such as Tyson Foods and Sanderson Farms indicate a high price premium. In addition...
Check out what plays we are watching for this coming week! As well as a recap of last week's video!
On Snow we are looking for a break of the $279 level with targets of $280, $282 and $283
Nice bullish engulfing pattern after earnings. Watching for a break of $126 with targets of $127, $128 and $129
$BYND closed strong on friday with a green hammer off key area. Also sitting at the bottom of it's range, we could see $140s and $160 soon. I like entry here for swing for at least 2 months. It could take a while to get up there again. Great RR due a tight stop under $116.