There is a wolfe wave setup on the 195 min time frame. The projected target is calculated by extending a linear line between pivot 1 and 4 and projecting the line. This is represented as the green perforated line, as shown in the chart. The projected target is 116 which is expected to reach this price target within approx 39 hours (195 min x 12).
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...
Spinning top candlestick at the the top of an uptrend of 7 straight green days. Could be a signal for BYND to consolidate, especially if SPX finally starts to cools down. A push down to 175/170 would be healthy move down before continuing back up.
Leading diagonal ended and price is correcting in a wedge. The wedge’s bottom trend line is speculative because we do not yet have another price point to establish a valid trend. However, if you’re familiar with Wyckoff, then you may make out the distribution phase pattern that began at end point of white line (at fib level 1). Also, notice the nearby price gap....
BYND wave (2) pullback in progress with more push lower towards $107 to then complete wave (2). Looking to set up some shorter term income butterflies before we rally in same degree wave (3). Check Video Update for Trade Execution.
Quick Breakdown of Beyond Meat $BYND
- Estimated Time: 6-8 Days
- Short Entry: $151.64
- Short Target: $142.73
- BYND Put $142 7/2 @ $275
Do not trade this, you will lose money
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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?
3 in-depth scenarios taking you through how I plan on playing earnings with NASDAQ:BYND
Scenario 1: Mini Falling Wedge (Bullish)
If this is indeed a falling wedge, we should see it smack both support and resistance 3 times prior to its decision.
If this is the case, I'll be looking to grab a position later this week for...
The rally in $BYND shares looks to be over on the news Tim Hortons is halting sales of its products in Canada. Here's the news from Bloomberg:
(Bloomberg) -- Tim Hortons restaurants have stopped selling Beyond Meat products at its coffee and donut shops across two of Canada’s biggest provinces.
The chain had been serving the Beyond Burger and a Beyond Meat...