During the next 2 months, the stock market will undergo a correction due to inflation fears. Beyond is a great company, however, this drive will cause the stock price to drop to the maximum possible retracement, .146 sitting at around ~$73/74. This is confluent to the bottom of the triangle.
The worst-case scenario is that we enter a bear market for some reason...
BYND bottom of the channel here watching for a reversal, possible bounce to long or we break and continue this downtrend, overvalued stock that will take a massive hit if the market continues to bleed.
Good opportunity to long this from current price. It has retraced to 0.618 Fibonacci and filled the gap after spiking a couple of weeks ago. This is a market that is only going to grow and Beyond Meat are probably the biggest name in it. target is at least the all time high at 239.71.
We may see a bit of a correction back toward 133 before we see a pump to $150. This channel is strong & should hold support.
Contract I'm looking at
- BYND CALL $150 5/29 @ $365 Per Contract
Do not trade this you will lose money.
DotcomJack | Easy Loot Trading
Beyond Meat was already coming down when some dude ate a bat. The amount further it dropped, is not by very much in comparison to where it was already. It seems like BYND could be positively effected by the new normal. More young investors trying to save the world. Any who last time we got here from the bottom- we blasted through $100 and did not look back. I...