Rebound Peabound
It's obvious that the trend is down on BYND, however, that's not to say that it will crash without rebounds.
On the trendlines you can see that BYND hit the bottom 4 times (currently at the bottom) signaling a potential rebound. Not only that, it is sitting at the resistance as well (it's slightly below, but that doesn't mean it 'broke resistance' yet).
My advise, calls for the rebound as we enter oversold + bottom of trendline, puts at the top of the trendline for a further downtrend.
**this is just an analysis, do your own research before buying/selling anything**
On the trendlines you can see that BYND hit the bottom 4 times (currently at the bottom) signaling a potential rebound. Not only that, it is sitting at the resistance as well (it's slightly below, but that doesn't mean it 'broke resistance' yet).
My advise, calls for the rebound as we enter oversold + bottom of trendline, puts at the top of the trendline for a further downtrend.
**this is just an analysis, do your own research before buying/selling anything**
Note
*edit: 4 should be 5.
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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.