Hello,
Beyond meat has been growing in value since its IPO later this year.
Consolidation was expected since, and it has started with a first impulse wave described in the descending parallel channel.
If the lower of the Bollinger Bands is broken, we may see the price testing the 61,8 % FIB area with a price of 119,56 $
A break of this area can lead us to 85$.
The Price oscillator is now in the negative zone under 0 as well as the MACD.
This scenario is invalid if we break up the price of 160$
Have a nice trade everybody.
Beyond meat has been growing in value since its IPO later this year.
Consolidation was expected since, and it has started with a first impulse wave described in the descending parallel channel.
If the lower of the Bollinger Bands is broken, we may see the price testing the 61,8 % FIB area with a price of 119,56 $
A break of this area can lead us to 85$.
The Price oscillator is now in the negative zone under 0 as well as the MACD.
This scenario is invalid if we break up the price of 160$
Have a nice trade everybody.
Trade active
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The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.